PENTAIR plc
For the period ended Mar 31, 2025. Filed Apr 22, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed Apr 22, 2025
PNR$68.12-2.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-09-30; filed 2024-10-22.
0000077360-24-000047
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-03-31; filed 2025-04-22.
0000077360-25-000018
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 142 previous paragraphs and 138 current paragraphs.
64 unchanged; 55 reworded; 15 added; 22 removed; 1 previous and 4 current paragraphs rearranged.
Tables are not compared: 16 previous and 14 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (15)
Current report
On December 2, 2024, as part of our Pool reportable segment, we completed the acquisition of G & F Manufacturing, LLC (“G & F Manufacturing”) for $116.0 million in cash, net of cash acquired and subject to customary adjustments. The net purchase price is comprised of an upfront cash payment of $108.0 million, subject to customary adjustments, and the estimated fair value at the acquisition date of a contingent earn-out liability based upon the achievement of certain defined operating results in the two years following the acquisition. G & F Manufacturing manufactures and services pool heat pumps.
Current report
The 0.7 percent decrease in net sales in the first quarter of 2025 from 2024 was primarily driven by:
Current report
•a business exit in our residential business in our Water Solutions segment that occurred in the fourth quarter of 2024.
Current report
•increased selling prices across all of our segments to mitigate inflationary cost increases;
Current report
•increased sales due to the acquisition of G & F Manufacturing completed in the fourth quarter of 2024;
Current report
•increased selling prices across all our segments to mitigate inflationary cost increases; and
Current report
•inflationary cost increases related to labor costs and certain raw materials; and
Current report
•transformation costs of $9.1 million in the first quarter of 2025, compared to $17.0 million in the first quarter of 2024; and
Current report
•decreased employee compensation expense compared to the same period of the prior year.
Current report
•increased share-based stock compensation expense driven by the accelerated vesting of retirement eligible employee awards granted in the first quarter of 2025.
Current report
•lower debt levels compared to the same period of the prior year.
Current report
•decrease in the amount of favorable discrete items in 2025 compared to 2024.
Current report
•increased sales due to the acquisition of G & F Manufacturing completed in the fourth quarter of 2024;
Current report
•increased sales as a result of the acquisition of G & F Manufacturing;
Current report
Net cash provided by financing activities in the first three months of 2025 primarily relates to net borrowings of revolving long-term debt of $196.2 million, partially offset by share repurchases of $50.0 million and dividend payments of $41.2 million.
Removed paragraphs (22)
Previous report
N.M. Not Meaningful
Previous report
The 1.5 and 0.3 percent decreases in net sales in the third quarter and first nine months, respectively, of 2024 from 2023 were primarily driven by:
Previous report
•increases in selling prices to mitigate impacts of inflationary costs;
Previous report
The 2.7 and 1.2 percentage point increases in SG&A as a percentage of net sales in the third quarter and first nine months, respectively, of 2024 from 2023 were primarily driven by:
Previous report
•transformation costs of $41.4 million in the first nine months of 2024, compared to $28.0 million in the first nine months of 2023;
Previous report
•asset impairment charges of $5.7 million in third quarter of 2024, compared to $0.4 million in the third quarter of 2023, and $5.8 million in the first nine months of 2024, compared to $0.9 million in the first nine months of 2023.
Previous report
•a reduction in our legal accrual of $7.5 million in the first nine months of 2024, compared to an increase in our legal accrual of $2.2 million in the first nine months of 2023.
Previous report
•lower variable debt compared to the same period of the prior year.
Previous report
•the favorable impact of discrete items that occurred during the first nine months of 2024 that did not occur in the same period of the prior year.
Previous report
•favorable foreign currency effects compared to the third quarter of the prior year.
Previous report
•increased selling prices in our commercial business to mitigate inflationary cost increases.
Previous report
This decrease was partially offset by:
Previous report
•increased productivity in our residential business mainly driven by transformation initiatives;
Previous report
•increased selling prices in our commercial business to mitigate impacts of inflation; and
Previous report
•favorable foreign currency effects compared to the prior year.
Previous report
•increased productivity mainly driven by transformation initiatives; and
Previous report
•increased selling prices in our commercial business to mitigate impacts of inflation and favorable mix.
Previous report
This increase was partially offset by:
Previous report
•a product line exit that occurred in the first nine months of 2024.
Previous report
BACKLOG OF ORDERS BY SEGMENT
Previous report
The majority of our backlog is short cycle in nature with shipments within one year from when a customer places an order and a substantial portion of our revenues has historically resulted from orders received and products delivered in the same month. A portion of our backlog, particularly from orders for major capital projects, can take more than one year from order to delivery depending on the size and type of order. We record, as part of our backlog, all orders from external customers, which represent firm commitments, and are supported by a purchase order or other legitimate contract. Our backlog of orders is dependent upon when customers place orders and is not necessarily an indicator of our expected results for our 2024 net sales. The decrease in our overall backlog from December 31, 2023 was primarily driven by our backlog trending down to more historical levels as a result of increased manufacturing capacity and improved lead times within each of our reportable segments as well as delivery of orders associated with certain advance sale (“early buy”) programs within our Pool segment.
Previous report
Net cash used for financing activities in the first nine months of 2024 primarily relates to the repayment of $200.0 million term loans under the Senior Credit Facility, $162.5 million Term Loan Facility principal payments, dividend payments of $114.3 million and share repurchases of $100.0 million.
Reworded paragraphs (55)
Previous wording
This report contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “should,” “would,” “could,” “positioned,” “strategy,” or “future” or words, phrases, or terms of similar substance or the negative thereof are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the overall global economic and business conditions impacting our business, including the strength of housing and related markets and conditions relating to international hostilities; supply, demand, logistics, competition and pricing pressures related to and in the markets we serve; the ability to achieve the benefits of our restructuring plans, cost reduction initiatives and Transformation Program; the impact of raw material, logistics and labor costs and other inflation; volatility in currency exchange rates and interest rates; failure of markets to accept new product introductions and enhancements; the ability to successfully identify, finance, complete and integrate acquisitions; risks associated with operating foreign businesses; the impact of seasonality of sales and weather conditions; our ability to comply with laws and regulations; the impact of changes in laws, regulations and administrative policy, including those that limit U.S. tax benefits or impact trade agreements and tariffs; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating and environmental, social and governance (“ESG”) goals and targets. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including this Form 10-Q and our Annual Report on Form 10-K for the year ended December 31, 2023. All forward-looking statements speak only as of the date of this report. Pentair assumes no obligation, and disclaims any obligation, to update the information contained in this report.
Current wording
This report contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “should,” “would,” “could,” “positioned,” “strategy,” or “future” or words, phrases, or terms of similar substance or the negative thereof are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the overall global economic and business conditions impacting our business, including the strength of housing and related markets and conditions relating to international hostilities; supply, demand, logistics, competition and pricing pressures related to and in the markets we serve; the ability to achieve the benefits of our restructuring plans, cost reduction initiatives and Transformation Program; the impact of raw material, logistics and labor costs and other inflation; volatility in currency exchange rates and interest rates; failure of markets to accept new product introductions and enhancements; the ability to successfully identify, finance, complete and integrate acquisitions; risks associated with operating foreign businesses; the impact of seasonality of sales and weather conditions; our ability to comply with laws and regulations; the impact of changes in laws, regulations and administrative policy, including those that limit U.S. tax benefits or impact trade agreements and tariffs; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating and sustainability goals and targets. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including this Form 10-Q and our Annual Report on Form 10-K for the year ended December 31, 2024. All forward-looking statements speak only as of the date of this report. Pentair assumes no obligation, and disclaims any obligation, to update the information contained in this report.
Previous wording
The terms “us,” “we,” “our” or “Pentair” refer to Pentair plc and its consolidated subsidiaries. At Pentair, we believe the health of our world depends on reliable access to clean water. We deliver a comprehensive range of smart, sustainable water solutions to homes, businesses and industries around the world. Our industry-leading and proven portfolio of solutions enables our customers to access clean, safe water; reduce water consumption; and recover and reuse water. Whether it’s moving, improving or helping people enjoy water, we help manage life’s most essential resource. We are composed of three reporting segments: Flow, Water Solutions and Pool. For the first nine months of 2024, the Flow, Water Solutions and Pool segments represented approximately 37%, 28% and 35% of total revenues, respectively. We classify our operations into reporting segments based primarily on types of products offered and markets served:
Current wording
The terms “us,” “we,” “our” or “Pentair” refer to Pentair plc and its consolidated subsidiaries. At Pentair, we believe the health of our world depends on reliable access to clean water. We deliver a comprehensive range of smart, sustainable water solutions to homes, businesses and industries around the world. Our industry-leading and proven portfolio of solutions enables our customers to access clean, safe water; reduce water consumption; and recover and reuse water. Whether it’s moving, improving or helping people enjoy water, we help manage life’s most essential resource. We are comprised of three reportable segments: Flow, Water Solutions and Pool. For the first three months of 2025, the Flow, Water Solutions and Pool reportable segments represented approximately 36%, 26% and 38% of total consolidated net sales, respectively. We classify our operations into reportable segments based primarily on types of products offered and markets served:
Previous wording
The following trends and uncertainties affected our financial performance in the first nine months of 2024 and are reasonably likely to impact our results in the future:
Current wording
The following trends and uncertainties affected our financial performance in the first three months of 2025 and are reasonably likely to impact our results in the future:
Previous wording
•In 2021, we created a transformation office and launched and committed resources to the Transformation Program designed to accelerate growth and drive margin expansion by driving operational excellence, reducing complexity and streamlining our processes. During 2023 and the first nine months of 2024, we made strategic progress on our Transformation Program initiatives with a focus on our four key themes of pricing excellence, strategic sourcing, operations excellence and organizational effectiveness. We expect to continue to execute on our key Transformation Program initiatives to drive margin expansion and to continue to incur transformation costs throughout the remainder of 2024 and beyond.
Current wording
•We have a Transformation Program designed to accelerate growth and drive margin expansion by driving operational excellence, reducing complexity and streamlining our processes. During 2024 and the first three months of 2025, we made strategic progress on our Transformation Program initiatives with a focus on our four key themes of pricing excellence, strategic sourcing, operations excellence and organizational effectiveness. We expect to continue to execute on our key Transformation Program initiatives to drive margin expansion and to continue to incur transformation costs throughout the remainder of 2025 and beyond.
Previous wording
•In 2024, we began using 80/20 guiding principles to enable our Transformation Program. This 80/20 analysis is expected to create value by focusing on the right customers and products through quadrant based strategies. We expect the analysis to result in actions to improve operating performance by reducing lower margin sales and removing complexity in the future.
Current wording
•During 2024 and the first three months of 2025, we implemented 80/20 guiding principles to enable our Transformation Program. This 80/20 analysis is expected to create value by focusing on key customers and products through quadrant-based strategies. We expect the analysis to result in actions to improve operating performance by driving growth with our highest value customers, reducing lower margin sales and removing complexity in the future.
Previous wording
•During 2023 and the first nine months of 2024, we executed certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. We expect these actions to continue throughout the remainder of 2024 and to drive margin growth.
Current wording
•During 2024 and the first three months of 2025, we executed certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. We expect these actions to continue throughout the remainder of 2025 and to drive margin growth.
Previous wording
•During 2023 and the first nine months of 2024, we experienced inflationary cost increases for certain raw materials as well as logistics and transportation costs. The current volatile market for commodities has the potential to continue to drive price increases in our supply chain. While we have taken pricing actions and implemented transformation initiatives that we expect to improve productivity and offset cost increases, we anticipate inflationary cost increases to continue for the remainder of 2024.
Current wording
•During 2024 and the first three months of 2025, we experienced inflationary cost increases for certain raw materials as well as logistics and transportation costs. The ongoing volatile market for commodities has the potential to continue to drive price increases in our supply chain. In addition, the current U.S. administration has recently implemented tariffs and has announced the possibility of implementing additional, or increasing current, tariffs. We expect these actions and reactionary tariff adjustments by other countries to impact our business and contribute to inflationary cost increases. As a result, we have taken actions to mitigate the impact of tariffs such as pricing increases, inventory pre-buys and capping orders to manage supply chain, inventory and production, which may continue going forward. In addition, our Transformation Program initiatives are intended to improve productivity and offset cost increases. We anticipate supply chain pressures as well as inflationary cost increases due to these tariffs and any resulting impact on macroeconomic conditions and our business to continue throughout the remainder of 2025.
Previous wording
•The Organization for Economic Co-operation and Development Pillar Two Model Rules (“Pillar Two”) for a global 15.0% minimum tax are in the process of being adopted by a number of jurisdictions in which we operate. Pillar Two has negatively impacted our effective tax rate in 2024. That impact could change in the future as we continue to evaluate the enacted legislative changes and as new guidance becomes available.
Current wording
•The Organization for Economic Co-operation and Development Pillar Two Model Rules (“Pillar Two”) for a global 15.0% minimum tax have been adopted by a number of jurisdictions in which we operate. Pillar Two has negatively impacted our effective tax rate in 2025 and is likely to continue to impact our effective tax rate in the future. We continue to evaluate the enacted legislative changes and new guidance as it becomes available.
Previous wording
•Focusing growth initiatives that accelerate our investments in digital, innovation, technology and ESG;
Current wording
•Focusing growth initiatives that accelerate our investments in digital, innovation, technology and sustainability;
Previous wording
•decreased sales volume in our residential flow and industrial solutions businesses within our Flow segment compared to the prior year;
Current wording
•decreased sales volume in our residential flow and industrial solutions businesses within our Flow segment compared to the same period of the prior year;
Previous wording
•decreased sales volume within our commercial and residential businesses in our Water Solutions segment compared to the prior year, in addition to the completion of a large project in 2023 within our commercial business that did not recur in the first nine months of 2024; and
Current wording
•decreased sales volume within our Water Solutions segment compared to the same period of the prior year;
Previous wording
•unfavorable foreign currency effects compared to the first nine months of the prior year.
Current wording
•unfavorable foreign currency effects compared to the first quarter of the prior year; and
Previous wording
•increased sales volume in our commercial flow business within our Flow segment compared to the prior year;
Current wording
•increased sales volume in our commercial flow business within our Flow segment compared to the same period of the prior year; and
Previous wording
•increased sales volume within our Pool segment due to higher demand compared to the prior year; and
Current wording
•increased sales volume within our Pool segment due to higher demand compared to the same period of the prior year.
Previous wording
The 2.7 and 2.3 percentage point increases in gross profit as a percentage of net sales in the third quarter and first nine months, respectively, of 2024 from 2023 were primarily driven by:
Current wording
The 1.5 percentage point increase in gross profit as a percentage of net sales in the first quarter of 2025 from 2024 was primarily driven by:
Previous wording
•increased productivity mainly driven by transformation initiatives across all segments and manufacturing leverage within our Pool segment; and
Current wording
•increased productivity mainly driven by transformation initiatives across all segments.
Previous wording
•asset impairment and write-offs of $3.5 million recorded in the first nine months of 2024, compared to $5.3 million in the first nine months of 2023.
Current wording
•asset impairment and write-offs of $5.2 million recorded in the first quarter of 2025, compared to $0.8 million in the first quarter of 2024.
Previous wording
The 0.8 percentage point decrease in segment income for Water Solutions as a percentage of net sales in the third quarter of 2024 from 2023 was primarily driven by:
Current wording
The 0.7 percentage point decrease in SG&A as a percentage of net sales in the first quarter of 2025 from 2024 was primarily driven by:
Previous wording
•restructuring and other costs of $23.4 million in the third quarter of 2024, compared to $1.6 million in the third quarter of 2023, and $33.9 million in the first nine months of 2024, compared to $5.1 million in the first nine months of 2023; and
Current wording
•restructuring and other costs of $9.7 million in the first quarter of 2025, compared to $4.6 million in the first quarter of 2024; and
Previous wording
The 28.0 and 20.0 percent decreases in net interest expense in the third quarter and first nine months, respectively, of 2024 from 2023 were primarily driven by:
Current wording
The 27.8 percent decrease in net interest expense in the first quarter of 2025 from 2024 was primarily driven by:
Previous wording
The 0.7 and 0.4 percentage point decreases in the effective tax rate in the third quarter and first nine months, respectively, of 2024 from 2023 were primarily driven by:
Current wording
The 2.3 percentage point increase in the effective tax rate in the first quarter of 2025 from 2024 was primarily driven by:
Previous wording
•the unfavorable mix of global earnings.
Current wording
•the unfavorable mix of global earnings; and
Previous wording
We evaluate performance based on net sales and reportable segment income (“segment income”) and use a variety of ratios to measure performance of our reporting segments. Segment income represents operating income of each reportable segment inclusive of equity income of unconsolidated subsidiaries and exclusive of intangible amortization, costs of restructuring and transformation activities, impairments, legal accrual adjustments and settlements and other unusual non-operating items.
Current wording
We evaluate performance based on net sales and reportable segment income (“segment income”) and use certain ratios, particularly return on sales, to measure performance of our reportable segments. Segment income represents operating income of each reportable segment inclusive of equity income of unconsolidated subsidiaries and exclusive of intangible amortization, costs of restructuring and transformation activities, impairments, legal accrual adjustments and settlements and other unusual non-operating items.
Previous wording
The 7.0 and 4.2 percent decreases in net sales for Flow in the third quarter and first nine months, respectively, of 2024 from 2023 were primarily driven by:
Current wording
The 4.3 percent decrease in net sales for Flow in the first quarter of 2025 from 2024 was primarily driven by:
Previous wording
•decreased sales volume in our residential flow and industrial solutions businesses compared to the prior year.
Current wording
•decreased sales volume in our residential flow and industrial solutions businesses compared to the same period of the prior year; and
Previous wording
•increased sales volume in our commercial flow business compared to the prior year;
Current wording
•increased sales volume in our commercial flow business compared to the same period of the prior year; and
Previous wording
The 2.8 and 3.1 percentage point increases in segment income for Flow as a percentage of net sales in the third quarter and first nine months, respectively, of 2024 from 2023 were primarily driven by:
Current wording
The 2.6 percentage point increase in segment income for Flow as a percentage of net sales in the first quarter of 2025 from 2024 was primarily driven by:
Previous wording
The 3.3 and 3.8 percent decreases in net sales for Water Solutions in the third quarter and first nine months, respectively, of 2024 from 2023 were primarily driven by:
Current wording
The 5.5 percent decrease in net sales for Water Solutions in the first quarter of 2025 from 2024 was primarily driven by:
Previous wording
•decreased sales volume compared to the prior year, in addition to the completion of a large project in 2023 within our commercial business that did not recur in the first nine months of 2024; and
Current wording
•decreased sales volume compared to the same period of the prior year;
Previous wording
•a product line exit in our Pool segment that occurred in the first nine months of 2024.
Current wording
•a business exit in our residential business that occurred in the fourth quarter of 2024; and
Previous wording
•increased selling prices in our Flow segment, in our commercial business within our Water Solutions segment and in our Pool segment to mitigate inflationary cost increases;
Current wording
•increased selling prices to mitigate inflationary cost increases.
Previous wording
The 0.5 percentage point increase in segment income for Water Solutions as a percentage of net sales in the first nine months of 2024 from 2023 was primarily driven by:
Current wording
The 3.1 percentage point increase in segment income for Water Solutions as a percentage of net sales in the first quarter of 2025 from 2024 was primarily driven by:
Previous wording
•favorable foreign currency effects compared to the third quarter of the prior year.
Current wording
•favorable foreign currency effects compared to the first quarter of the prior year; and
Previous wording
The 7.3 and 7.4 percent increases in net sales for Pool in the third quarter and first nine months, respectively, of 2024 from 2023 were primarily driven by:
Current wording
The 6.8 percent increase in net sales for Pool in the first quarter of 2025 from 2024 was primarily driven by:
Previous wording
•increased sales volume due to higher demand compared to the prior year; and
Current wording
•increased sales volume due to higher demand compared to the same period of the prior year.
Previous wording
The 4.7 and 2.0 percentage point increases in segment income for Pool as a percentage of net sales in the third quarter and first nine months, respectively, of 2024 from 2023 were primarily driven by:
Current wording
The 2.0 percentage point increase in segment income for Pool as a percentage of net sales in the first quarter of 2025 from 2024 was primarily driven by:
Previous wording
•increased productivity driven by transformation initiatives and manufacturing leverage; and
Current wording
•increased productivity driven by transformation initiatives.
Previous wording
We experience seasonal cash flows primarily due to seasonal demand in a number of markets. Consistent with historical trends, we experienced seasonal cash usage in the first quarter of 2024 and drew on our revolving credit facility to fund our operations. This cash usage reversed in the second quarter as the seasonality of our businesses peaked and generated significant cash to fund our operations. We continued to generate significant cash to fund our operations in the third quarter of 2024.
Current wording
We experience seasonal cash flows primarily due to seasonal demand in a number of markets. Consistent with historical trends, we experienced seasonal cash usage in the first quarter of 2025 and drew on our revolving credit facility to fund our operations. This cash usage typically reverses in the second quarter as the seasonality of our businesses peak. We expect historical seasonal patterns to continue and the second quarter of 2025 to generate significant cash to fund our operations.
Previous wording
End-user demand for pool equipment in the Pool segment, water solution products in the Water Solutions segment, and residential water supply and agricultural products within the Flow segment follows warm weather trends, with seasonal highs from April to September. The magnitude of the sales spike is partially mitigated by employing some advance sale “early buy” programs (generally including extended payment terms and/or additional discounts). Demand for residential and agricultural water systems is also impacted by weather patterns, particularly by temperature, heavy flooding and droughts.
Current wording
End-user demand for pool equipment in the Pool segment, water solution products in the Water Solutions segment, and residential water supply and agricultural products within the Flow segment follows warm weather trends, with seasonal highs ranging from April to September. The magnitude of the sales spike has historically been partially mitigated by employing some advance sale “early buy” programs (generally including extended payment terms and/or additional discounts). Demand for residential and agricultural water systems is also impacted by weather patterns, particularly by temperature, heavy flooding and droughts.
Previous wording
Net cash provided by operating activities of continuing operations in the first nine months of 2024 primarily reflects net income from continuing operations, net of non-cash depreciation, definite-lived intangible amortization, share-based compensation and asset impairment, of $580.5 million. Additionally, we had a cash inflow of $80.9 million as a result of changes in net working capital, primarily due to lower inventory and accounts receivable balances. These decreases were primarily related to supply chain efficiencies and improved lead times.
Current wording
Net cash used for operating activities of continuing operations in the first three months of 2025 primarily reflects a cash outflow of $255.5 million as a result of changes in net working capital, primarily due to an increase in accounts receivable largely related to certain advance sale programs in anticipation of our distributors’ peak sales season in the second and third quarters. The outflow related to net working capital was partially offset by net income from continuing operations, net of non-cash depreciation, definite-lived intangible amortization, share-based compensation and asset impairment, of $201.7 million.
Showing the first 40 of 55 pairs. Open the source sections for the rest.
Rearranged current paragraphs (4)
Current report — wording carried from elsewhere
•unfavorable foreign currency effects compared to the first quarter of the prior year.
Current report — wording carried from elsewhere
•unfavorable foreign currency effects compared to the same period of the prior year.
Current report — wording carried from elsewhere
•increased productivity mainly driven by transformation initiatives;
Current report — wording carried from elsewhere
•increased selling prices to mitigate impacts of inflation; and
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
The consolidated results of operations for the nine months ended September 30, 2024 and 2023 were as follows: