Zurn Elkay Water Solutions Corp
For the period ended Dec 31, 2025. Filed Feb 9, 2026.
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FY2025 · Filed Feb 9, 2026
ZWS$45.48+0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended | |||
|---|---|---|---|
| December 31, 2025 | December 31, 2024 | December 31, 2023 | |
| Operating activities | |||
| Net income | $198.0 | $160.2 | $112.7 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation | 30.0 | 29.2 | 29.2 |
| Amortization of intangible assets | 58.7 | 59.1 | 58.7 |
| Non-cash restructuring charges | 2.5 | 8.0 | 2.5 |
| Loss on divestiture of asbestos liabilities and certain assets | — | — | 9.3 |
| Divestiture of asbestos liabilities and certain assets | — | — | (13.0) |
| Loss (gain) on dispositions of long-lived assets | 4.0 | 0.6 | (2.7) |
| Deferred income taxes | (4.6) | (14.8) | (4.2) |
| Other non-cash expenses | 2.2 | 5.1 | 1.9 |
| Actuarial gain on pension and other postretirement benefit obligations | (0.5) | (1.4) | (2.0) |
| Loss on the extinguishment of debt | — | — | 0.9 |
| Pension curtailment and settlement | (10.7) | — | — |
| Stock-based compensation expense | 40.6 | 37.9 | 40.0 |
| Changes in operating assets and liabilities: | |||
| Receivables, net | 18.4 | 6.3 | 10.1 |
| Inventories, net | (0.1) | 2.7 | 65.0 |
| Other assets | 6.9 | 1.4 | 2.5 |
| Accounts payable | (6.8) | 15.8 | (60.8) |
| Accruals and other | 7.9 | (16.6) | 3.8 |
| Cash provided by operating activities | 346.5 | 293.5 | 253.9 |
| Investing activities | |||
| Expenditures for property, plant and equipment | (29.9) | (21.8) | (21.3) |
| Proceeds from dispositions of long-lived assets | — | 1.6 | 7.7 |
| Proceeds from insurance claims | — | — | 9.0 |
| Cash used for investing activities | (29.9) | (20.2) | (4.6) |
| Financing activities | |||
| Proceeds from borrowings of debt | — | — | 13.0 |
| Repayments of debt | (0.8) | (0.8) | (77.9) |
| Proceeds from exercise of stock options and ESPP contributions | 7.9 | 8.7 | 4.3 |
| Taxes withheld and paid on employees' share-based payment awards | (0.6) | (8.6) | (3.1) |
| Repurchase of common stock | (159.9) | (150.2) | (125.1) |
| Payment of common stock dividends | (63.9) | (56.6) | (50.4) |
| Cash used for financing activities | (217.3) | (207.5) | (239.2) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 3.2 | (4.5) | 1.8 |
| Increase in cash, cash equivalents and restricted cash | 102.5 | 61.3 | 11.9 |
| Cash, cash equivalents and restricted cash at beginning of period (1) | 198.0 | 136.7 | 124.8 |
| Cash, cash equivalents and restricted cash at end of period (1) | $300.5 | $198.0 | $136.7 |
(1)The Company has combined cash flows from discontinued operations with cash flows from continuing operations within operating, investing and financing categories.
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