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Zurn Elkay Water Solutions Corp. – ‘10-Q’ for 9/30/22 – ‘R43’

On:  Tuesday, 10/25/22, at 4:55pm ET   ·   For:  9/30/22   ·   Accession #:  1439288-22-135   ·   File #:  1-35475

Previous ‘10-Q’:  ‘10-Q’ on 7/26/22 for 6/30/22   ·   Next:  ‘10-Q’ on 4/25/23 for 3/31/23   ·   Latest:  ‘10-Q’ on 4/23/24 for 3/31/24   ·   1 Reference:  To:  Zurn Elkay Water Solutions Corp. – ‘8-K’ on / for 7/1/22

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  As Of               Filer                 Filing    For·On·As Docs:Size

10/25/22  Zurn Elkay Water Solutions Corp.  10-Q        9/30/22   97:9.3M

Quarterly Report   —   Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.66M 
 2: EX-10.4     Material Contract                                   HTML     30K 
 3: EX-10.5     Material Contract                                   HTML     41K 
 4: EX-10.6     Material Contract                                   HTML     40K 
 5: EX-31.1     Certification -- §302 - SOA'02                      HTML     29K 
 6: EX-31.2     Certification -- §302 - SOA'02                      HTML     29K 
 7: EX-32.1     Certification -- §906 - SOA'02                      HTML     27K 
13: R1          Cover Page                                          HTML     77K 
14: R2          Condensed Consolidated Balance Sheets               HTML    134K 
15: R3          Condensed Consolidated Balance Sheets               HTML     34K 
                (Parenthetical)                                                  
16: R4          Condensed Consolidated Statements of Operations     HTML    136K 
17: R5          Condensed Consolidated Statements of Comprehensive  HTML     53K 
                Income                                                           
18: R6          Condensed Consolidated Statements of Cash Flows     HTML    104K 
19: R7          Basis of Presentation and Significant Accounting    HTML     36K 
                Policies                                                         
20: R8          Acquisitions                                        HTML     58K 
21: R9          Restructuring and Other Similar Charges             HTML     54K 
22: R10         Discontinued Operations                             HTML     73K 
23: R11         Revenue Recognition                                 HTML     66K 
24: R12         Income Taxes                                        HTML     38K 
25: R13         Earnings per Share                                  HTML     29K 
26: R14         Stockholders' Equity                                HTML    166K 
27: R15         Accumulated Other Comprehensive Loss                HTML     51K 
28: R16         Inventories                                         HTML     35K 
29: R17         Goodwill and Intangible Assets                      HTML     59K 
30: R18         Other Current Liabilities                           HTML     43K 
31: R19         Long-Term Debt                                      HTML     43K 
32: R20         Fair Value Measurements                             HTML     59K 
33: R21         Commitments and Contingencies                       HTML     41K 
34: R22         Retirement Benefits                                 HTML     58K 
35: R23         Stock-Based Compensation                            HTML     36K 
36: R24         Leases                                              HTML    185K 
37: R25         Subsequent Events                                   HTML     27K 
38: R26         Basis of Presentation and Significant Accounting    HTML     51K 
                Policies (Policies)                                              
39: R27         Acquisitions (Tables)                               HTML     50K 
40: R28         Restructuring and Other Similar Charges (Tables)    HTML     55K 
41: R29         Discontinued Operations (Tables)                    HTML     74K 
42: R30         Revenue Recognition (Tables)                        HTML     54K 
43: R31         Stockholders' Equity (Tables)                       HTML    160K 
44: R32         Accumulated Other Comprehensive Loss (Tables)       HTML     52K 
45: R33         Inventories (Tables)                                HTML     36K 
46: R34         Goodwill and Intangible Assets (Tables)             HTML     93K 
47: R35         Other Current Liabilities (Tables)                  HTML     43K 
48: R36         Long-Term Debt (Tables)                             HTML     36K 
49: R37         Fair Value Measurements (Tables)                    HTML     75K 
50: R38         Commitments and Contingencies (Tables)              HTML     35K 
51: R39         Retirement Benefits (Tables)                        HTML     53K 
52: R40         Stock-Based Compensation (Tables)                   HTML     34K 
53: R41         Leases (Tables)                                     HTML    120K 
54: R42         Basis of Presentation and Significant Accounting    HTML     29K 
                Policies (Details)                                               
55: R43         Acquisitions - Narrative (Details)                  HTML     98K 
56: R44         Acquisitions - Assets Acquired and Liabilities      HTML     73K 
                Assumed (Details)                                                
57: R45         Acquisitions - Pro Forma Financial Information      HTML     38K 
                (Details)                                                        
58: R46         Restructuring and Other Similar Charges - By        HTML     33K 
                Operating Segment (Details)                                      
59: R47         Restructuring and Other Similar Charges -           HTML     52K 
                Restructuring Reserve (Details)                                  
60: R48         Discontinued Operations - Narrative (Details)       HTML     33K 
61: R49         Discontinued Operations - Loss From Discontinued    HTML     70K 
                Operations (Details)                                             
62: R50         Discontinued Operations - Other Significant         HTML     62K 
                Operating Non-Cash Items (Details)                               
63: R51         Revenue Recognition - Revenue Disaggregated by      HTML     44K 
                Customer Type and Geography (Details)                            
64: R52         Revenue Recognition - Narrative (Details)           HTML     44K 
65: R53         Income Taxes (Details)                              HTML     40K 
66: R54         Earnings per Share (Details)                        HTML     28K 
67: R55         Stockholders' Equity - Roll Forward (Details)       HTML    113K 
68: R56         Stockholders' Equity - Narrative (Details)          HTML     39K 
69: R57         Accumulated Other Comprehensive Loss - Changes in   HTML     50K 
                Accumulated Other Comprehensive Income (Loss)                    
                (Details)                                                        
70: R58         Accumulated Other Comprehensive Loss -              HTML     44K 
                Reclassifications Out of Accumulated Other                       
                Comprehensive Loss (Details)                                     
71: R59         Inventories (Details)                               HTML     38K 
72: R60         Goodwill and Intangible Assets - Changes in Net     HTML     36K 
                Carrying Value (Details)                                         
73: R61         Goodwill and Intangible Assets - Gross Carrying     HTML     53K 
                Amount and Accumulated Amortization (Details)                    
74: R62         Goodwill and Intangible Assets - Narrative          HTML     50K 
                (Details)                                                        
75: R63         Other Current Liabilities (Details)                 HTML     54K 
76: R64         Long-Term Debt - Summary of Debt (Details)          HTML     42K 
77: R65         Long-Term Debt - Narrative (Details)                HTML     67K 
78: R66         Fair Value Measurements - Schedule of Assets and    HTML     38K 
                Liabilities Measured on Recurring and Nonrecurring               
                Basis (Details)                                                  
79: R67         Fair Value Measurements - Identifiable Intangible   HTML     35K 
                Assets (Details)                                                 
80: R68         Fair Value Measurements - Narrative (Details)       HTML     27K 
81: R69         Commitments and Contingencies - Warranty Liability  HTML     34K 
                (Details)                                                        
82: R70         Commitments and Contingencies - Narrative           HTML     42K 
                (Details)                                                        
83: R71         Retirement Benefits - Schedule of Components of     HTML     48K 
                Net Periodic Benefit Cost (Details)                              
84: R72         Retirement Benefits - Narrative (Details)           HTML     31K 
85: R73         Stock-Based Compensation - Narrative (Details)      HTML     27K 
86: R74         Stock-Based Compensation - Stock Options,           HTML     42K 
                Restricted Stock Units, and Performance Stock                    
                Units (Details)                                                  
87: R75         Leases - ROU Assets and Lease Liability Balances    HTML     57K 
                (Details)                                                        
88: R76         Leases - Components of Lease Expense (Details)      HTML     40K 
89: R77         Leases - Future Minimum Lease Payments (Details)    HTML     64K 
90: R78         Leases - Weighted-Average Remaining Lease Terms     HTML     36K 
                (Details)                                                        
91: R79         Leases - Supplemental Cash Flow Information         HTML     39K 
                (Details)                                                        
92: R80         Subsequent Events (Details)                         HTML     28K 
95: XML         IDEA XML File -- Filing Summary                      XML    173K 
93: XML         XBRL Instance -- zws-20220930_htm                    XML   2.46M 
94: EXCEL       IDEA Workbook of Financial Reports                  XLSX    163K 
 9: EX-101.CAL  XBRL Calculations -- zws-20220930_cal                XML    266K 
10: EX-101.DEF  XBRL Definitions -- zws-20220930_def                 XML    534K 
11: EX-101.LAB  XBRL Labels -- zws-20220930_lab                      XML   1.71M 
12: EX-101.PRE  XBRL Presentations -- zws-20220930_pre               XML    969K 
 8: EX-101.SCH  XBRL Schema -- zws-20220930                          XSD    172K 
96: JSON        XBRL Instance as JSON Data -- MetaLinks              457±   678K 
97: ZIP         XBRL Zipped Folder -- 0001439288-22-000135-xbrl      Zip    416K 


‘R43’   —   Acquisitions – Narrative (Details)


This is an IDEA Financial Report.  [ Alternative Formats ]



 
 <>  v3.22.2.2
Acquisitions - Narrative (Details)
$ / shares in Units, $ in Millions
3 Months Ended 9 Months Ended
USD ($)
member
director
$ / shares
shares
USD ($)
USD ($)
USD ($)
$ / shares
shares
USD ($)
$ / shares
shares
USD ($)
USD ($)
$ / shares
shares
Business Acquisition [Line Items]              
Common stock, par value (in dollars per share) | $ / shares       $ 0.01 $ 0.01   $ 0.01
Common stock, shares outstanding (in shares) | shares       177,759,553 177,759,553   125,720,068
Acquisitions, net of cash acquired         $ 44.8 $ 3.4  
Goodwill       $ 754.8 754.8   $ 254.1
Acquisition-related Costs              
Business Acquisition [Line Items]              
Business acquisition, pro forma net income (loss)         33.7 (33.7)  
Fair Value Adjustment to Inventory              
Business Acquisition [Line Items]              
Business acquisition, pro forma net income (loss)         14.6 (18.3)  
Elkay Manufacturing Company              
Business Acquisition [Line Items]              
Payments to acquire business $ 1,462.9            
Purchase price, common stock $ 1,417.0            
Business acquisition, share price (in usd per share) | $ / shares $ 27.48            
Preliminary cash purchase price $ 45.9            
Issued shares (in shares) | shares 51,564,524            
Common stock, par value (in dollars per share) | $ / shares $ 0.01            
Percent of shares issued of outstanding shares 29.00%            
Common stock, shares outstanding (in shares) | shares 177,746,770            
Incurred transaction-related costs       33.7 33.7    
Number of board members | member 11            
Number of directors | director 2            
Business acquisition, pro forma net income (loss)         71.4 (3.8)  
Business acquisition, pro forma revenue         1,240.2 $ 1,102.5  
Net sales       149.9      
Net loss       $ 9.4      
Goodwill $ 505.0            
Advance Technology Solutions, LLC              
Business Acquisition [Line Items]              
Payments to acquire business     $ 4.5        
Preliminary cash purchase price     3.8        
Consideration transferred payable     $ 0.7        
Cash purchase price payable period     2 years        
Goodwill     $ 7.5        
Other intangible assets     1.6        
Trade working capital     9.0        
Other liabilities     $ (1.0)        
Decrease in goodwill         1.3    
McWane Assets Acquisition              
Business Acquisition [Line Items]              
Preliminary cash purchase price         $ 1.1    
Acquisitions, net of cash acquired   $ 12.6          

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:10/25/228-K
For Period end:9/30/22
7/1/223,  4,  8-K,  8-K/A
12/31/2110-K,  11-K,  8-K,  SD
11/17/21
9/30/2110-Q
4/16/214,  8-K
 List all Filings 


1 Previous Filing that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 7/01/22  Zurn Elkay Water Solutions Corp.  8-K:1,2,5,8 7/01/22   16:2.3M                                   Toppan Merrill/FA
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Filing Submission 0001439288-22-000135   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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