Xylem Inc
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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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.
Sep 30, 2024 · Filed Oct 31, 2024
XYL$97.83-2.2%Stored close · as of Nov 6, 2026
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Item 1. Financial Statements:
PART I
ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited)
(in millions, except per share data)
| Three Months | Nine Months | |||
|---|---|---|---|---|
| For the periods ended September 30, | 2024 | 2023 | 2024 | 2023 |
| Revenue from products | $1,744 | $1,720 | $5,236 | $4,535 |
| Revenue from services | 360 | 356 | 1,070 | 711 |
| Revenue | 2,104 | 2,076 | 6,306 | 5,246 |
| Cost of revenue from products | 1,047 | 1,043 | 3,147 | 2,730 |
| Cost of revenue from services | 273 | 269 | 804 | 555 |
| Cost of revenue | 1,320 | 1,312 | 3,951 | 3,285 |
| Gross profit | 784 | 764 | 2,355 | 1,961 |
| Selling, general and administrative expenses | 445 | 491 | 1,404 | 1,291 |
| Research and development expenses | 55 | 61 | 172 | 172 |
| Restructuring and asset impairment charges | 4 | 21 | 37 | 57 |
| Operating income | 280 | 191 | 742 | 441 |
| Interest expense | 10 | 14 | 35 | 35 |
| Other non-operating income, net | 1 | 8 | 11 | 19 |
| (Loss) on sale of businesses | (2) | — | (6) | — |
| Income before taxes | 269 | 185 | 712 | 425 |
| Income tax expense | 52 | 33 | 148 | 82 |
| Net income | $217 | $152 | $564 | $343 |
| Earnings per share: | ||||
| Basic | $0.89 | $0.63 | $2.33 | $1.64 |
| Diluted | $0.89 | $0.63 | $2.32 | $1.63 |
| Weighted average number of shares: | ||||
| Basic | 242.9 | 240.9 | 242.5 | 208.9 |
| Diluted | 243.8 | 242.2 | 243.4 | 210.1 |
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
(in millions)
| Three Months | Nine Months | |||
|---|---|---|---|---|
| For the periods ended September 30, | 2024 | 2023 | 2024 | 2023 |
| Net income | $217 | $152 | $564 | $343 |
| Other comprehensive income (loss), before tax: | ||||
| Foreign currency translation adjustment | 97 | (61) | 38 | (77) |
| Net change in derivative hedge agreements: | ||||
| Unrealized gain (loss) | 3 | (4) | — | (3) |
| Amount of (gain) loss reclassified into net income | 2 | — | 2 | 4 |
| Net change in post-retirement benefit plans: | ||||
| Amortization of prior service credit | — | (1) | — | (2) |
| Amortization of actuarial (gain) loss into net income | — | — | — | (1) |
| Foreign currency translation adjustment | (2) | 1 | — | — |
| Other comprehensive income (loss), before tax | 100 | (65) | 40 | (79) |
| Income tax (benefit) expense related to items of other comprehensive income (loss) | (13) | 9 | 3 | (5) |
| Other comprehensive income (loss), net of tax | 113 | (74) | 37 | (74) |
| Comprehensive income | $330 | $78 | $601 | $269 |
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