Zurn Elkay Water Solutions (ZWS) 10-Q 26 Oct 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Oct. 22, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-35475
Entity Registrant Name	ZURN WATER SOLUTIONS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5197013
Entity Address, Address Line One	511 W. Freshwater Way
Entity Address, City or Town	Milwaukee,
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53204
City Area Code	414
Local Phone Number	643-3739
Entity Information, Former Legal or Registered Name	REXNORD CORPORATION
Title of Each Class	Common Stock, $.01 par value
Trading Symbol(s)	ZWS
Name of Each Exchange on Which Registered	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		121,349,513
Entity Central Index Key	0001439288
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 477.6	$ 255.6
Receivables, net	333.2	274.8
Inventories	386.4	330.1
Income tax receivable	8.4	9.8
Other current assets	57.1	37.4
Total current assets	1,262.7	907.7
Property, plant and equipment, net	399.5	434.8
Intangible assets, net	498.7	524.6
Goodwill	1,373	1,370.1
Other assets	155.2	163.9
Total assets	3,689.1	3,401.1
Current liabilities:
Current maturities of debt	2.5	2.4
Trade payables	210.3	129.4
Compensation and benefits	54.5	57
Current portion of pension and postretirement benefit obligations	3.1	3.1
Other current liabilities	150.3	125.6
Total current liabilities	420.7	317.5
Long-term debt	1,189.3	1,189.2
Pension and postretirement benefit obligations	162.1	171.4
Deferred income taxes	112.6	119.4
Other liabilities	158.7	164.3
Total liabilities	2,043.4	1,961.8
Stockholders' equity:
Common stock, $0.01 par value; 200,000,000 shares authorized; shares issued and outstanding: 121,348,314 at September 30, 2021 and 119,549,735 at December 31, 2020	1.2	1.2
Additional paid-in capital	1,452.1	1,392.9
Retained earnings	269.8	116
Accumulated other comprehensive loss	(80.6)	(73.8)
Total Zurn stockholders' equity	1,642.5	1,436.3
Non-controlling interest	3.2	3
Total stockholders' equity	1,645.7	1,439.3
Total liabilities and stockholders' equity	$ 3,689.1	$ 3,401.1

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	121,348,314	119,549,735
Common stock, shares outstanding (in shares)	121,348,314	119,549,735

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net sales	$ 557.2	$ 493.6	$ 1,651.6	$ 1,489.7
Cost of sales	338.4	300.5	989.1	903.2
Gross profit	218.8	193.1	662.5	586.5
Selling, general and administrative expenses	117.8	105.1	359.1	318.1
Restructuring and other similar charges	2	6.6	3.7	14.9
Amortization of intangible assets	9.1	9	27.6	27.1
Income from operations	89.9	72.4	272.1	226.4
Non-operating expense:
Interest expense, net	(11)	(11.5)	(33.7)	(38.3)
Actuarial loss on pension and postretirement benefit obligations	0	0	0	(35.8)
Other (expense) income, net	(0.7)	0.6	0.6	(2.6)
Income before income taxes	78.2	61.5	239	149.7
Provision for income taxes	(17.9)	(16.1)	(55.6)	(39.7)
Equity method investment income (loss)	0	0	0.3	(0.2)
Net income from continuing operations	60.3	45.4	183.7	109.8
Income from discontinued operations, net of tax	3.8	0	3.8	0
Net income	64.1	45.4	187.5	109.8
Non-controlling interest income	0	0	0.2	0.3
Net income attributable to Zurn	$ 64.1	$ 45.4	$ 187.3	$ 109.5
Basic net income per share attributable to Zurn common stockholders:
Continuing operations (in dollars per share)	$ 0.50	$ 0.38	$ 1.52	$ 0.91
Discontinued operations (in dollars per share)	0.03	0	0.03	0
Net income (in dollars per share)	0.53	0.38	1.55	0.91
Diluted net income per share attributable to Zurn common stockholders:
Continuing operations (in dollars per share)	0.48	0.37	1.47	0.89
Discontinued operations (in dollars per share)	0.03	0	0.03	0
Net income (in dollars per share)	$ 0.51	$ 0.37	$ 1.50	$ 0.89
Weighted-average number of shares outstanding (in thousands):
Basic (in shares)	121,385	120,704	120,558	120,909
Effect of dilutive equity awards (in shares)	3,703	1,803	3,968	2,153
Diluted (in shares)	125,088	122,507	124,526	123,062

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income attributable to Zurn	$ 64.1	$ 45.4	$ 187.3	$ 109.5
Other comprehensive income (loss):
Foreign currency translation adjustments	(10.3)	13	(6.6)	3.1
Change in pension and postretirement defined benefit plans, net of tax	0	(0.1)	(0.2)	(3.9)
Other comprehensive (loss) income, net of tax	(10.3)	12.9	(6.8)	(0.8)
Non-controlling interest income	0	0	0.2	0.3
Total comprehensive income (loss)	$ 53.8	$ 58.3	$ 180.7	$ 109

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Net income	$ 187.5	$ 109.8
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation	41.8	39.2
Amortization of intangible assets	27.6	27.1
Gains on dispositions of long-lived assets	(10.1)	(0.4)
Deferred income taxes	(6.6)	(9.2)
Other non-cash expenses	1.5	2.2
Actuarial loss on pension and postretirement benefit obligations	0	35.8
Stock-based compensation expense	38.3	28.9
Changes in operating assets and liabilities:
Receivables	(67.5)	(16.3)
Inventories	(58.7)	0.5
Other assets	(7.1)	22.1
Accounts payable	82.4	(22.7)
Accruals and other	16.7	20.7
Cash provided by operating activities	245.8	237.7
Investing activities
Expenditures for property, plant and equipment	(21.6)	(31.2)
Acquisitions, net of cash acquired	(3.4)	(59.4)
Proceeds from dispositions of long-lived assets	18.5	9
Cash used for investing activities	(6.5)	(81.6)
Financing activities
Proceeds from borrowings of debt	0	331
Repayments of debt	(1.7)	(332.1)
Proceeds from exercise of stock options	23.5	26.4
Taxes withheld and paid on employees' share-based payment awards	(1.4)	(9.4)
Repurchase of common stock	(0.9)	(95.7)
Payment of common stock dividends	(32.6)	(29)
Cash used for financing activities	(13.1)	(108.8)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(4.2)	2.3
Increase in cash, cash equivalents and restricted cash	222	49.6
Cash, cash equivalents and restricted cash at beginning of period	255.6	277
Cash, cash equivalents and restricted cash at end of period	$ 477.6	$ 326.6

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies The unaudited condensed consolidated financial statements included herein have been prepared by Zurn Water Solutions Corporation (“Zurn” or the “Company”) in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. In the opinion of management, the condensed consolidated financial statements include all adjustments necessary for a fair presentation of the results of operations for the interim periods. Following the end of the Company's fiscal year ended March 31, 2020, the Company transitioned to a December 31 fiscal year-end date. Results for the interim periods are not necessarily indicative of results that may be expected for the year ending December 31, 2021. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company's Transition Report on Form 10-K for the nine-month transition period ended December 31, 2020 (the "Transition Period"). The Company Prior to the completion of the Transaction (as defined below), Zurn operated two platforms: Process & Motion Control and Water Management. The Process & Motion Control platform designs, manufactures, markets and services a comprehensive range of specified, highly-engineered mechanical components used within complex systems where the Company's customers' reliability requirements and costs of failure or downtime are high. The Process & Motion Control portfolio includes motion control products, shaft management products, aerospace components, and related value-added services. After completion of the Transaction (as defined below), Zurn is a growth-oriented, pure-play water business that designs, procures, manufactures, and markets what the Company believes is the broadest sustainable product portfolio of solutions to improve health, human safety and the environment. The Zurn product portfolio includes professional grade water control and safety, water distribution and drainage, finish plumbing, hygienic and environmental and site works products for public and private spaces. The Company's heritage of innovation and specification have allowed it to provide highly-engineered, mission-critical solutions to customers for decades and affords it the privilege of having long-term, valued relationships with market leaders. The Company operates in a disciplined way and the Zurn Business System (“ZBS”) is its operating philosophy. Grounded in the spirit of continuous improvement, ZBS creates a scalable, process-based framework that focuses on driving superior customer satisfaction and financial results by targeting world-class operating performance throughout all aspects of its business. Spin-Off of Process & Motion Control Segment As previously disclosed, on February 15, 2021, Zurn Water Solutions Corporation (formerly Rexnord Corporation) entered into definitive agreements with Regal Rexnord Corporation (formerly Regal Beloit Corporation) (“Regal”), Land Newco, Inc., then a wholly-owned indirect subsidiary of the Company (“Land”), and Phoenix 2021, Inc., a wholly-owned subsidiary of Regal (“Merger Sub”), with respect to a Reverse Morris Trust transaction (the “Transaction”), pursuant to which, and subject to the terms and conditions of the definitive agreements entered into among the parties, (1) the Company transferred (or caused to be transferred) to Land substantially all of the assets, and Land assumed substantially all of the liabilities, of the Company’s Process & Motion Control segment (“PMC”), (2) after which, all of the issued and outstanding shares of common stock, $0.01 par value per share, of Land (“Land common stock”) held by a subsidiary of the Company were distributed in a series of distributions to the Company’s stockholders (the “Distributions”, and the final distribution of Land common stock from the Company to the Company’s stockholders, which was made pro rata for no consideration, the “Spin-Off”) and (3) immediately after the Spin-Off, Merger Sub merged with and into Land (the “Merger”) and all shares of Land common stock (other than those held by the Company, Land, Regal, Merger Sub or their respective subsidiaries) were converted into the right to receive shares of the common stock, $0.01 par value per share, of Regal, as calculated and subject to adjustment as set forth in the merger agreement entered into among the parties (the “Merger Agreement”). The Transaction closed on October 4, 2021. Following completion of the Transaction, the Company changed its name to “Zurn Water Solutions Corporation”; shares of the Company's common stock trade on the New York Stock Exchange under the ticker symbol “ZWS”. Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate that is expected to be discontinued because of reference rate reform. The amendments in this update provide optional expedients and exceptions for applying GAAP to instruments affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this ASU are effective for all entities as of March 12, 2020, through December 31, 2022. The Company did not modify any material contracts due to reference rate reform during the three and nine months ended September 30, 2021. The Company will continue to evaluate the impact this guidance will have on its consolidated financial statements for all future transactions affected by reference rate reform during the time period referenced above. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ( "ASU 2019-12" )

Acquisitions and Divestiture

Acquisitions and Divestiture	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestiture	Acquisitions and Divestiture Nine Months Ended September 30, 2021 During the fiscal year ending March 31, 2019, the Company completed the sale of its VAG business, which was previously included in its Water Management platform. The terms of the sale agreement provided the Company to receive contingent consideration, based on, and subject to, the VAG business attainment of Earn-out EBITDA, as defined in the sale agreement. During the three months ended September 30, 2021, the Company received a $4.2 million cash payment as a result of the VAG businesses performance in its fiscal year ending March 31, 2021, which represented the final period of the earn-out, and was recorded within income from discontinued operations, net of tax in its condensed consolidated statements of operations. On April 16, 2021, the Company acquired substantially all of the assets of Advance Technology Solutions, LLC (d/b/a ATS GREASEwatch) ("ATS GREASEwatch") for a cash purchase price of $4.5 million, excluding transaction costs and net of cash acquired. The Company paid $3.8 million to the sellers at closing, with the remaining $0.7 million payable to the sellers upon settlement of certain indemnities within two years of closing, ATS GREASEwatch, headquartered in Saginaw, Michigan, develops, manufactures and markets remote tank monitoring devices, alarms, software and services for various applications and provides technology to enhance and expand the Company's current product offerings within the Company's existing Water Management platform. The acquisition has been accounted for as a business combination and was recorded by allocating the purchase price to the fair value of assets acquired and liabilities assumed at the acquisition date. The excess of the purchase price over the fair value assigned to the assets acquired and liabilities assumed was recorded as goodwill. The purchase price allocation associated with the acquisition resulted in goodwill of $2.7 million, other intangibles assets of $1.6 million and $0.2 million of other net assets. This acquisition did not materially affect the Company's condensed consolidated statements of operations or financial position. Nine Month Transition Period Ended December 31, 2020 On December 11, 2020, the Company acquired substantially all of the assets of Hadrian Manufacturing Inc. and 100% of the stock of Hadrian Inc. (collectively, "Hadrian") for a total cash purchase price of $101.3 million, excluding transaction costs and net of cash acquired. During the nine months ended September 30, 2021, the Company received a cash payment of $0.4 million from the sellers in connection with finalizing the acquisition date trade working capital, which is included in the total cash purchase price mentioned above. Hadrian, based in Burlington, Ontario, Canada, manufactures washroom partitions and lockers primarily used in institutional and commercial end markets and complements the Company's existing Water Management platform. The acquisition has been accounted for as a business combination and was recorded by allocating the preliminary purchase price to the fair value of assets acquired and liabilities assumed at the acquisition date. The excess of the purchase price over the fair value assigned to the assets acquired and liabilities assumed was recorded as goodwill. The preliminary purchase price allocations associated with the acquisition resulted in goodwill of $43.0 million ($37.0 million tax deductible), other intangible assets of $32.4 million (including tradenames of $0.8 million and $31.6 million of customer relationships), $17.1 million of fixed assets, $9.7 million of trade working capital and other net liabilities of $0.9 million. The preliminary purchase price allocations for Hadrian were adjusted during the nine months ended September 30, 2021, resulting in a $0.2 million increase in goodwill related to aforementioned cash payment received, partially offset by the refinement of the estimated fair value of the liabilities assumed. The Company is continuing to evaluate the preliminary purchase price allocations for Hadrian related to the fair values assigned to fixed assets and net working capital acquired, which will be completed within the one year period following its acquisition date. On October 1, 2020, the Company completed the sale of its gearbox product line in China within its Process & Motion Control platform for aggregate cash consideration of $5.8 million. The gearbox product line was not material to the Company's consolidated statements of operations or financial position and did not meet the criteria to be presented as discontinued operations. In completing the sale, the Company sold inventory, fixed assets and other intellectual property associated with the business with a carrying value of $5.0 million. In addition, the Company allocated $1.8 million of goodwill from the Process & Motion Control platform that was included in the calculation of the gain on sale of the business. The Company recognized a gain of $0.8 million within other income (expense), net in the condensed consolidated statements of operations during the nine months ended December 31, 2020. On November 24, 2020, the Company acquired the remaining non-controlling interest in a Process & Motion Control joint venture for a cash purchase price of $0.3 million. The acquisition of the remaining minority interest was not material to the Company's condensed consolidated statements of operations or financial position. The Company's results of operations include the acquired operations subsequent to the acquisition date. Pro-forma results of operations and certain other U.S. GAAP disclosures related to the acquisition have not been presented because they are not significant to the Company's condensed consolidated statements of operations or financial position. Fiscal Year Ended March 31, 2020 On January 28, 2020, the Company acquired substantially all of the assets of Just Manufacturing Company ("Just Manufacturing") for a cash purchase price of $59.4 million, excluding transaction costs and net of cash acquired. Just Manufacturing, based in Franklin Park, Illinois, manufactures stainless steel sinks and plumbing fixtures primarily used in institutional and commercial end markets and complements the Company's existing Water Management platform. On May 10, 2019, the Company acquired substantially all of the assets of StainlessDrains.com, a manufacturer of stainless steel drains, grates and accessories for industrial and commercial end markets, for a cash purchase price of $24.8 million, excluding transaction costs and net of cash acquired. StainlessDrains.com, headquartered in Greenville, Texas, added complementary product lines to the Company's existing Water Management platform. The Company's results of operations include the acquired operations subsequent to the aforementioned acquisitions dates. Pro-forma results of operations and certain other U.S. GAAP disclosures related to these acquisitions have not been presented because they are not significant to the Company's condensed consolidated statements of operations or financial position. These acquisitions have been accounted for as business combinations and were recorded by allocating the purchase price to the fair value of assets acquired and liabilities assumed at the acquisition date. The excess of the purchase price over the fair value assigned to the assets acquired and liabilities assumed was recorded as goodwill. The purchase price allocations associated with these acquisitions resulted in tax deductible goodwill of $27.3 million, other intangible assets of $40.9 million (including tradenames of $2.2 million and $38.7 million of customer relationships), $8.4 million of fixed assets, $9.1 million of trade working capital and other net liabilities of $1.5 million. During the fiscal year ended March 31, 2020, the Company acquired the remaining non-controlling interest in a Process and Motion Control joint venture for a cash purchase price of $0.3 million. The acquisition of the remaining minority interest was not material to the Company's condensed consolidated statements of operations or financial position.

Restructuring and Other Similar

Restructuring and Other Similar Charges	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Other Similar Charges	Restructuring and Other Similar Charges During the three and nine months ended September 30, 2021, the Company continued to execute various restructuring actions. These initiatives were implemented to drive efficiencies and reduce operating costs while also modifying the Company's footprint to reflect changes in the markets it serves, the impact of acquisitions on the Company's overall manufacturing capacity and the refinement of its overall product portfolio. These restructuring actions primarily resulted in workforce reductions, lease termination costs, and other facility rationalization costs. Management expects to continue executing initiatives and select product-line rationalizations to optimize its operating margin and manufacturing footprint. As such, the Company expects further expenses related to workforce reductions, lease termination costs, and other facility rationalization costs. Since the Company’s evaluation of other potential restructuring actions are in process, related restructuring expenses, if any, are not yet estimable. The following table summarizes the Company's restructuring and other similar charges during the three and nine months ended September 30, 2021 and September 30, 2020, by classification of operating segment (in millions): Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 1.1 $ 0.1 $ 0.6 $ 1.8 Contract termination and other associated costs 0.2 — — 0.2 Total restructuring and other similar costs $ 1.3 $ 0.1 $ 0.6 $ 2.0 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 1.3 $ 1.0 $ 0.6 $ 2.9 Contract termination and other associated costs 0.8 — — 0.8 Total restructuring and other similar costs $ 2.1 $ 1.0 $ 0.6 $ 3.7 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 5.6 $ 0.1 $ — $ 5.7 Contract termination and other associated costs 1.1 — (0.2) 0.9 Total restructuring and other similar costs $ 6.7 $ 0.1 $ (0.2) $ 6.6 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 11.1 $ 1.1 $ 0.2 $ 12.4 Contract termination and other associated costs 2.5 0.1 (0.1) 2.5 Total restructuring and other similar costs $ 13.6 $ 1.2 $ 0.1 $ 14.9 The following table summarizes the activity in the Company's restructuring accrual for the nine months ended September 30, 2021 (in millions): Employee termination benefits Contract termination and other associated costs Total Restructuring accrual, December 31, 2020 (1) $ 6.1 $ 0.7 $ 6.8 Charges 2.9 0.8 3.7 Cash payments (6.2) (1.3) (7.5) Restructuring accrual, September 30, 2021 (1) $ 2.8 $ 0.2 $ 3.0 ____________________ (1) The restructuring accrual is included in other current liabilities in the condensed consolidated balance sheets. In connection with the ongoing supply chain optimization and footprint repositioning initiatives, the Company has taken several actions to consolidate existing manufacturing facilities and rationalize its product offerings. These actions require the Company to assess whether the carrying amount of impacted long-lived assets will be recoverable as well as whether the remaining useful lives require adjustment. As a result, the Company recognized accelerated depreciation of $0.2 million and $1.2 million during the three and nine months ended September 30, 2020, respectively. There was no accelerated depreciation recognized during the three and nine months ended September 30, 2021. Accelerated depreciation is recorded within Cost of sales in the condensed consolidated statements of operations.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606, Revenue from Contracts with Customers ("ASC 606"). A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized when obligations under the terms of a contract with the customer are satisfied. For the majority of the Company's product sales, revenue is recognized at a point-in-time when control of the product is transferred to the customer, which generally occurs when the product is shipped from the Company's manufacturing facility to the customer. When contracts include multiple products to be delivered to the customer, generally each product is separately priced and is determined to be distinct within the context of the contract. Other than a standard assurance-type warranty that the product will conform to agreed-upon specifications, there are generally no other significant post-shipment obligations. The expected costs associated with standard warranties continues to be recognized as an expense when the products are sold. When the contract provides the customer the right to return eligible products or when the customer is part of a sales rebate program, the Company reduces revenue at the point of sale using current facts and historical experience by using an estimate for expected product returns and rebates associated with the transaction. The Company adjusts these estimates at the earlier of when the most likely amount of consideration that is expected to be received changes or when the consideration becomes fixed. Accordingly, an increase or decrease to revenue is recognized at that time. Sales and other taxes collected concurrent with revenue-producing activities are excluded from revenue. The Company has elected to recognize the cost for freight and shipping when control of products has transferred to the customer as a component of cost of sales in the condensed consolidated statements of operations. The Company classifies shipping and handling fees billed to customers as net sales and the corresponding costs are classified as Cost of sales in the condensed consolidated statements of operations. Revenue by Category Prior to the closing of the Transaction, the Company had two business segments, Process & Motion Control and Water Management. The following tables present the Company's revenue disaggregated by customer type and originating geography (in millions): Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Original equipment manufacturers/end users $ 179.5 $ 167.6 $ 537.1 $ 526.8 Maintenance, repair, and operations 148.0 126.3 435.9 405.1 Total Process & Motion Control $ 327.5 $ 293.9 $ 973.0 $ 931.9 Water safety, quality, flow control and conservation $ 215.0 $ 187.2 $ 630.7 $ 521.4 Water infrastructure 14.7 12.5 47.9 36.4 Total Water Management $ 229.7 $ 199.7 $ 678.6 $ 557.8 Three Months Ended Nine Months Ended Process & Motion Control Water Management Process & Motion Control Water Management United States and Canada $ 201.1 $ 228.4 $ 590.7 $ 675.0 Europe 74.7 — 229.0 — Rest of world 51.7 1.3 153.3 3.6 Total $ 327.5 $ 229.7 $ 973.0 $ 678.6 Three Months Ended Nine Months Ended Process & Motion Control Water Management Process & Motion Control Water Management United States and Canada $ 168.6 $ 194.7 $ 569.1 $ 546.0 Europe 75.7 — 223.6 — Rest of world 49.6 5.0 139.2 11.8 Total $ 293.9 $ 199.7 $ 931.9 $ 557.8 Contract Balances For substantially all of the Company's Process & Motion Control and Water Management product sales, the customer is billed 100% of the contract value when the product ships and payment is generally due 30 days from shipment. Certain contracts include longer payment periods; however, the Company has elected to utilize the practical expedient in which the Company will only recognize a financing component to the sale if payment is due more than one year from the date of shipment. The Company receives payment from customers based on the contractual billing schedule and specific performance requirements established in the contract. Billings are recorded as accounts receivable when an unconditional right to the contractual consideration exists. Contract assets arise when the Company performs by transferring goods or services to a customer before the customer pays consideration, or before the customer’s payment is due. A contract liability exists when the Company has received consideration or the amount is due from the customer in advance of revenue recognition. Contract liabilities and contract assets are recognized in Other current liabilities and Receivables, net, respectively, in the Company's condensed consolidated balance sheets. The following table presents changes in the Company’s contract assets and liabilities during the nine months ended September 30, 2021 (in millions): Balance Sheet Classification December 31, 2020 Additions Deductions September 30, 2021 Contract assets Receivables, net $ 0.1 $ — $ (0.1) $ — Contract liabilities (1) Other current liabilities $ 4.0 $ 2.1 $ (1.5) $ 4.6 ____________________ (1) Contract liabilities are reduced when revenue is recognized. Backlog The Company has a backlog of $470.8 million as of September 30, 2021, which represents the most likely amount of consideration expected to be received in satisfying the remaining backlog under open contracts. The Company has elected to use the optional exemption provided by ASC 606-10-50-14A for variable consideration, and has not included estimated rebates in the amount of unsatisfied performance obligations. The Company expects to recognize approximately 69% of the unsatisfied performance obligations as revenue in the remaining three months of the year ending December 31, 2021, and the remaining approximately 31% in 2022 and beyond. Timing of Performance Obligations Satisfied at a Point in Time The Company determined that the customer is able to control the product when it is delivered to them; thus, depending on the shipping terms, control will transfer at different points between the Company's manufacturing facility or warehouse and the customer’s location. The Company considers control to have transferred upon shipment or delivery because the Company has a present right to payment at that time, the customer has legal title to the asset, the Company has transferred physical possession of the asset, and the customer has significant risks and rewards of ownership of the asset. Variable Consideration The Company provides volume-based rebates and the right to return product to certain customers, which are accrued for based on current facts and historical experience. Rebates are paid either on an annual or quarterly basis. There are no other significant variable consideration elements included in the Company's contracts with customers. Contract Costs The Company has elected to expense contract costs as incurred if the amortization period is expected to be one year or less. If the amortization period of these costs is expected to be greater than one year, the costs would be subject to capitalization. As of September 30, 2021, the contract assets capitalized, as well as amortization recognized in the three and nine months ended September 30, 2021, are not significant and there have been no impairment losses recognized. Allowance for Doubtful Accounts

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes for all periods presented is based on an estimated effective income tax rate for the respective fiscal years. The estimated annual effective income tax rate is determined excluding the effect of significant discrete items or items that are reported net of their related tax effects. The tax effect of significant discrete items is reflected in the period in which they occur. The Company's income tax expense is impacted by a number of factors, including the amount of taxable earnings derived in foreign jurisdictions with tax rates that are generally higher than the U.S. federal statutory rate, state tax rates in the jurisdictions where the Company does business and the Company's ability to utilize various tax credits, capital loss and net operating loss (“NOL”) carryforwards. The Company regularly reviews its deferred tax assets for recoverability and valuation allowances are established based on historical losses, projected future taxable income and the expected timing of the reversals of existing temporary differences, as deemed appropriate. In addition, all other available positive and negative evidence is taken into consideration for purposes of determining the proper balances of such valuation allowances. As a result of this review, the Company continues to maintain a full valuation allowance against U.S. federal and state capital loss carryforwards and a partial valuation allowance against certain foreign NOL carryforwards and other related foreign deferred tax assets, as well as certain U.S. state NOL carryforwards. Future changes to the balances of these valuation allowances, as a result of this continued review and analysis by the Company, could result in a material impact to the financial statements for such period of change. The income tax provision was $17.9 million in the three months ended September 30, 2021, compared to $16.1 million in the three months ended September 30, 2020. The effective income tax rate for the three months ended September 30, 2021, was 22.9% versus 26.2% in the three months ended September 30, 2020. The effective income tax rate for the three months ended September 30, 2021 was slightly above the U.S. federal statutory rate of 21% primarily due to the accrual of foreign income taxes, which are generally above the U.S. federal statutory rate, the accrual of additional income taxes associated with global intangible low-taxed income (“GILTI”), the accrual of unrecognized income tax benefits in which such realization is not deemed more-likely-than-not, the accrual of additional income taxes associated with compensation deduction limitations under Section 162(m) of the Internal Revenue Code and the accrual of various state income taxes, substantially offset by the recognition of income tax benefits associated with the reduction in the liability originally recorded on the expatriation of certain foreign branch assets and the recognition of income tax benefits associated with share-based payments and foreign-derived intangible income (“FDII”). The effective income tax rate for the three months ended September 30, 2020 was above the U.S. federal statutory rate of 21% primarily due to the accrual of foreign income taxes, which are generally above the U.S. federal statutory rate, the accrual of additional income taxes associated with GILTI and compensation deduction limitations under Section 162(m) of the Internal Revenue Code, and the accrual of various state income taxes, partially offset by the recognition of income tax benefits associated with FDII. The income tax provision was $55.6 million in the nine months ended September 30, 2021, compared to $39.7 million in the nine months ended September 30, 2020. The effective income tax rate for the nine months ended September 30, 2021 was 23.3% versus 26.5% for the nine months ended September 30, 2020. The effective income tax rate for the nine months ended September 30, 2021 was above the U.S. federal statutory rate of 21% primarily due to the accrual of foreign income taxes, which are generally above the U.S. federal statutory rate, the accrual of additional income taxes associated with GILTI, the accrual of unrecognized income tax benefits in which such realization is not deemed more-likely-than-not, the accrual of additional income taxes associated with compensation deduction limitations under Section 162(m) of the Internal Revenue Code and the accrual of various state income taxes, partially offset by the recognition of a discrete foreign financing-related income tax benefit, the recognition of income tax benefits associated with the reduction in the liability originally recorded on the expatriation of certain foreign branch assets, the recognition of certain previously unrecognized tax benefits due to the lapse of the applicable statutes of limitations and the recognition of income tax benefits associated with share-based payments and FDII. The effective income tax rate for the nine months ended September 30, 2020 was above the U.S. federal statutory rate of 21% primarily due to the accrual of foreign income taxes, which are generally above the U.S. federal statutory rate, the accrual of additional income taxes associated with GILTI and compensation deduction limitations under Section 162(m) of the Internal Revenue Code, the accrual of withholding taxes associated with foreign dividends, and the accrual of various state income taxes, partially offset by the recognition of certain previously unrecognized tax benefits due to the lapse of the applicable statutes of limitations as well as the recognition of income tax benefits associated with share-based payments and FDII. The Company’s total liability for net unrecognized tax benefits as of September 30, 2021 and December 31, 2020 was $18.5 million and $18.6 million, respectively. The Company recognizes accrued interest and penalties related to unrecognized income tax benefits in income tax expense. As of September 30, 2021 and December 31, 2020, the total amount of gross, unrecognized income tax benefits included accrued interest and penalties of $1.5 million and $1.6 million, respectively. The Company recognized $0.2 million and $(0.4) million of net interest and penalties as income tax expense (benefit) during the nine months ended September 30, 2021 and September 30, 2020, respectively. The Company conducts business in multiple locations within and outside the U.S. Consequently, the Company is subject to periodic income tax examinations by domestic and foreign income tax authorities. Currently, the Company is undergoing routine, periodic income tax examinations in both domestic and foreign jurisdictions. During the three months ended June 30, 2020, the Internal Revenue Service (the “IRS”) completed an income tax examination of the Company’s U.S. consolidated federal income tax returns for the tax years ended March 31, 2016 and 2017. The Company paid approximately $1.5 million upon the conclusion of such examination, all of which was previously accrued in the Company’s financial statements. During the three months ended March 31, 2020, the German tax authorities concluded an examination of the

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share     Basic net income per share is computed by dividing net income from continuing operations, income from discontinued operations, net of tax and net income attributable to Zurn by the corresponding weighted average number of common shares outstanding for the period. Diluted net income per share is computed based on the weighted average common shares outstanding increased by the number of incremental shares that would have been outstanding if the potential dilutive shares were issued through the exercise of outstanding stock options or release of outstanding restricted stock units and performance stock units to purchase common shares, except when the effect would be anti-dilutive. The computation of diluted net income per share for each of the three and nine months ended September 30, 2021, excludes zero and 0.2 million shares, respectively, related to equity awards due to their anti-dilutive effects. The computation of diluted net income per share for the three and nine months ended September 30, 2020 excludes 0.8 million and 1.0 million related to equity awards due to their anti-dilutive effects, respectively.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity Stockholders' equity consists of the following (in millions): Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interest Total stockholders’ equity Balance at December 31, 2019 $ 1.2 $ 1,320.9 $ 147.9 $ (104.4) $ 2.6 $ 1,368.2 Total comprehensive income (loss) — — 28.5 (20.0) 0.1 8.6 Stock-based compensation expense — 8.2 — — — 8.2 Proceeds from exercise of stock options — 19.2 — — — 19.2 Repurchase of common stock — — (80.7) — — (80.7) Common stock dividends ($0.08 per share) — — (9.8) — — (9.8) Balance at March 31, 2020 1.2 1,348.3 85.9 (124.4) 2.7 1,313.7 Total comprehensive income — — 35.6 6.3 0.2 42.1 Stock-based compensation expense — 10.6 — — — 10.6 Proceeds from exercise of stock options — 6.3 — — — 6.3 Taxes withheld and paid on employees' share-based payment awards — (9.4) — — — (9.4) Common stock dividends ($0.08 per share) — — (9.6) — — (9.6) Balance at June 30, 2020 1.2 1,355.8 111.9 (118.1) 2.9 1,353.7 Total comprehensive income — — 45.4 12.9 — 58.3 Stock-based compensation expense — 10.1 — — — 10.1 Proceeds from exercise of stock options — 0.9 — — — 0.9 Repurchase of common stock — — (15.0) — — (15.0) Common stock dividends ($0.08 per share) — — (9.6) — — (9.6) Balance at September 30, 2020 $ 1.2 $ 1,366.8 $ 132.7 $ (105.2) $ 2.9 $ 1,398.4 Common stock (1) Additional Retained Accumulated Non-controlling interest (2) Total Balance at December 31, 2020 $ 1.2 $ 1,392.9 $ 116.0 $ (73.8) $ 3.0 $ 1,439.3 Total comprehensive income (loss) — — 50.0 (1.8) 0.1 48.3 Stock-based compensation expense — 14.2 — — — 14.2 Proceeds from exercise of stock options — 2.8 — — — 2.8 Repurchase of common stock — — (0.9) — — (0.9) Common stock dividends ($0.09 per share) — — (10.8) — — (10.8) Balance at March 31, 2021 1.2 1,409.9 154.3 (75.6) 3.1 1,492.9 Total comprehensive income — — 73.2 5.3 0.1 78.6 Stock-based compensation expense — 11.6 — — — 11.6 Proceeds from exercise of stock options — 16.6 — — — 16.6 Taxes withheld and paid on employees' share-based payment awards — (1.4) — — — (1.4) Common stock dividends ($0.09 per share) — — (10.8) — — (10.8) Balance at June 30, 2021 1.2 1,436.7 216.7 (70.3) 3.2 1,587.5 Total comprehensive income (loss) — — 64.1 (10.3) — 53.8 Stock-based compensation expense — 11.3 — — — 11.3 Proceeds from exercise of stock options — 4.1 — — — 4.1 Common stock dividends ($0.09 per share) — — (11.0) — — (11.0) Balance at September 30, 2021 $ 1.2 $ 1,452.1 $ 269.8 $ (80.6) $ 3.2 $ 1,645.7 ____________________ (1) For the three and nine months ended September 30, 2021, the Company issued 282,402 and 1,820,879 shares of common stock upon the exercise of stock options, vesting of restricted stock units, and for other common stock awards, respectively. (2) On November 24, 2020, the Company acquired the remaining 30% non-controlling interest associated with one Process & Motion Control joint venture for a cash purchase price of $0.3 million. Following this transaction, represents a 5% non-controlling interest in one remaining Process & Motion Control controlled subsidiary. During fiscal 2015, the Company's Board of Directors approved a common stock repurchase program (the "Repurchase Program") authorizing the repurchase of up to $200.0 million of the Company's common stock from time to time on the open market or in privately negotiated transactions. On January 27, 2020, the Company's Board of Directors approved increasing the remaining share repurchase authority under the Repurchase Program to $300.0 million. The Repurchase Program does not require the Company to acquire any particular amount of common stock and does not specify the timing of purchases or the prices to be paid. During the nine months ended September 30, 2021 , the Company repurchased 22,300 shares of common stock for a total cost of $0.9 million at a weighted average price of $39.27 per share. During the three months ended September 30, 2020, the Company repurchased 500,050 shares of common stock at a total cost of $15.0 million at a weighted average price of $30.02 per share. During the nine months ended September 30, 2020, the Company repurchased 3.5 million shares of common stock at a total cost of $95.7 million at a weighted average price of $27.62 per share. The repurchased shares were canceled by the Company upon receipt. A total of approximately $162.8 million of the existing authority remained under the Repurchase Program at September 30, 2021

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The changes in accumulated other comprehensive loss, net of tax, for the nine months ended September 30, 2021, are as follows (in millions): Foreign Currency Translation Pension and Postretirement Plans Total Balance at December 31, 2020 $ (46.0) $ (27.8) $ (73.8) Other comprehensive loss before reclassifications (6.6) — (6.6) Amounts reclassified from accumulated other comprehensive loss — (0.2) (0.2) Net current period other comprehensive loss (6.6) (0.2) (6.8) Balance at September 30, 2021 $ (52.6) $ (28.0) $ (80.6) The following table summarizes the amounts reclassified from accumulated other comprehensive loss to net income during the three and nine months ended September 30, 2021 and September 30, 2020 (in millions): Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Income Statement Line Pension and other postretirement plans Amortization of prior service credit $ — $ (0.1) $ (0.2) $ (0.3) Other income (expense), net Provision for income taxes — — — — Total net of tax $ — $ (0.1) $ (0.2) $ (0.3)

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventory, Net [Abstract]
Inventories	Inventories The major classes of inventories are summarized as follows (in millions): September 30, 2021 December 31, 2020 Finished goods $ 182.5 $ 164.6 Work in progress 42.4 38.6 Purchased components 89.9 70.6 Raw materials 76.2 53.4 Inventories at First-in, First-Out ("FIFO") cost 391.0 327.2 Adjustment to state inventories at Last-in, First-Out ("LIFO") cost (4.6) 2.9 $ 386.4 $ 330.1

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the net carrying value of goodwill for the nine months ended September 30, 2021, by operating segment are presented below (in millions): Process & Motion Control Water Management Consolidated Net carrying amount as of December 31, 2020 $ 1,125.3 $ 244.8 $ 1,370.1 Currency translation adjustments (0.6) 0.5 (0.1) Acquisition (1) — 2.7 2.7 Purchase accounting adjustments (1) — 0.3 0.3 Net carrying amount as of September 30, 2021 $ 1,124.7 $ 248.3 $ 1,373.0 ____________________ (1) Refer to Note 2, Acquisitions and Divestiture for additional information regarding acquisitions. The gross carrying amount and accumulated amortization for each major class of identifiable intangible assets as of September 30, 2021 and December 31, 2020 are as follows (in millions): September 30, 2021 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 52.1 $ (42.8) $ 9.3 Customer relationships (including distribution network) 14 years 781.7 (597.7) 184.0 Tradenames 13 years 43.9 (19.4) 24.5 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,158.6 $ (659.9) $ 498.7 December 31, 2020 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 52.0 $ (42.2) $ 9.8 Customer relationships (including distribution network) 14 years 784.9 (578.0) 206.9 Tradenames 13 years 44.1 (17.1) 27.0 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,161.9 $ (637.3) $ 524.6 Intangible asset amortization expense totaled $9.1 million and $27.6 million for the three and nine months ended September 30, 2021. Intangible asset amortization expense totaled $9.0 million and $27.1 million for the three and nine months ended September 30, 2020. Customer relationships acquired during the nine months ended September 30, 2021 were assigned a weighted average useful life of 10 years. The Company expects to recognize amortization expense on the intangible assets subject to amortization of $36.7 million in the year ending December 31, 2021 (inclusive of the $27.6 million of amortization expense recognized in the nine months ended September 30, 2021), $21.1 million in 2022, $18.6 million in 2023, $18.5 million in 2024, $17.4 million in 2025 and $16.4 million in 2026.

Other Current Liabilities

Other Current Liabilities	9 Months Ended
	Sep. 30, 2021
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	Other Current Liabilities Other current liabilities are summarized as follows (in millions): September 30, 2021 December 31, 2020 Contract liabilities $ 4.6 $ 4.0 Sales rebates 48.1 35.7 Commissions 8.7 5.9 Restructuring and other similar charges (1) 3.0 6.8 Product warranty (2) 7.3 8.9 Risk management (3) 12.5 10.5 Legal and environmental 3.3 2.4 Taxes, other than income taxes 9.7 7.7 Income tax payable 16.8 14.5 Interest payable 7.4 1.4 Current portion of operating lease liability 14.6 13.3 Other 14.3 14.5 $ 150.3 $ 125.6 ____________________ (1) See more information related to the restructuring obligations within Note 3, Restructuring and Other Similar Charges. (2) See more information related to the product warranty obligations within Note 14, Commitments and Contingencies. (3) Includes projected liabilities related to losses arising from automobile, general and product liability claims.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt is summarized as follows (in millions): September 30, 2021 December 31, 2020 Term loan (1) $ 622.2 $ 621.5 4.875% Senior Notes due 2025 (2) 496.9 496.3 Finance leases and other subsidiary debt 72.7 73.8 Total 1,191.8 1,191.6 Less current maturities 2.5 2.4 Long-term debt $ 1,189.3 $ 1,189.2 ____________________ (1) Includes unamortized debt issuance costs of $2.8 million and $3.5 million at September 30, 2021 and December 31, 2020, respectively. (2) Includes unamortized debt issuance costs of $3.1 million and $3.7 million at September 30, 2021 and December 31, 2020, respectively. Senior Secured Credit Facility At September 30, 2021, the Company’s Third Amended and Restated First Lien Credit Agreement, as amended (the “Credit Agreement”), is funded by a syndicate of banks and other financial institutions and provides for (i) a $725.0 million term loan facility, which was reduced to $625.0 million as a result of a December 2019 voluntary prepayment, and (ii) a $264.0 million revolving credit facility. The term loan facility has a maturity date of August 21, 2024, and there are no required principal payments due or scheduled under the term debt until the maturity date. As of September 30, 2021 and for the nine month period then ended , the borrowings under the Term Loan had a weighted-average effective interest rate of 1.83% and 1.86% , respectively. No amounts were borrowed under the revolving credit facility at September 30, 2021 or December 31, 2020; however, $8.2 million and $3.0 million of the revolving credit facility were considered utilized in connection with outstanding letters of credit at September 30, 2021 and December 31, 2020, respectively. As of September 30, 2021 , the Company was in compliance with all applicable covenants under the Credit Agreement, including compliance with a maximum permitted total net leverage ratio (the Company's sole financial maintenance covenant under the revolving credit facility discussed below) of 6.75 to 1.0. The Company's total net leverage ratio was 1.7 to 1.0 as of September 30, 2021 . 4.875% Senior Notes due 2025 On December 7, 2017, the Company issued $500.0 million aggregate principal amount of 4.875% senior notes due 2025 (the “Notes”). The Notes were issued by RBS Global, Inc. and Rexnord LLC (Company subsidiaries; collectively, the “Issuers”) pursuant to an Indenture, dated as of December 7, 2017 (the “Indenture”), by and among the Issuers, the domestic subsidiaries of the Company (with certain exceptions) as guarantors named therein (the “Subsidiary Guarantors”) and Wells Fargo Bank, National Association (the “Trustee”). The Notes are general senior unsecured obligations of the Issuers. Zurn Water Solutions Corporation separately entered into a Parent Guarantee with the Trustee whereby it guaranteed certain obligations of the Issuers under the Indenture. The Notes pay interest semi-annually on June 15 and December 15. Accounts Receivable Securitization Program On May 17, 2021, the Company terminated it's $100.0 million accounts receivable securitization facility with Mizuho Bank, Ltd (the “Securitization”). At December 31, 2020, the Company's total borrowing capacity under the Securitization was $85.7 million based on the then-current accounts receivable balances. As of December 31, 2020, no amounts were borrowed under the Securitization. In addition, $7.5 million of available borrowing capacity under the Securitization was considered utilized in connection with outstanding letters of credit at December 31, 2020. See Note 11, Long-Term Debt to the audited consolidated financial statements of the Company's Transition Report on Form 10-K for the Transition Period ended December 31, 2020 for further information regarding long-term debt. Debt Commitment Letters related to Transaction with Regal In connection with the Company’s then proposed transaction with Regal discussed in Note 1, on February 14, 2021, the Company entered into a debt commitment letter (the “Debt Commitment Letter”) and related fee letters with Credit Suisse AG, Cayman Islands Branch (“CS”) and Credit Suisse Loan Funding LLC, pursuant to which, and subject to the terms and conditions set forth therein, CS committed to provide up to $708.0 million in an aggregate principal amount of senior term loans under a senior secured term loan facility (“Term Loan Facility”) and up to $200.0 million in an aggregate principal amount of senior revolving loans under a senior secured revolving credit facility. The proceeds of the loans under the Term Loan Facility may be used by the Company, together with a dividend from Land Newco, Inc., then a wholly-owned indirect subsidiary of the Company (“Land”) and cash on RBS Global, Inc.’s balance sheet, (a) to redeem or prepay in full (i) all obligations currently outstanding under the Credit Agreement and (ii) the 4.875% senior unsecured notes due 2025; (b) to pay fees and expenses in connection with the transactions; and (c) for general corporate purposes. In connection with the then proposed transaction, Land also entered into a commitment letter dated as of February 15, 2021 (which is referred to as the “Land Commitment Letter”) with certain financial institutions (which is referred to as the “Land Commitment Parties”), pursuant to which the Land Commitment Parties committed to provide senior bridge loans under a 364-day senior bridge loan credit facility in an aggregate principal amount of up to approximately $486.8 million (which is referred to as the “Land Bridge Facility”), subject to the terms and conditions of the Land Commitment Letter. On May 14, 2021 Land entered into a credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent and the lenders named therein, providing for a delayed draw term loan facility with commitments thereunder in an aggregate principal amount of approximately $486.8 million, maturing on August 25, 2023 (which is referred to as the “DDTL Facility”). Subject to satisfaction of the conditions therein, the DDTL Facility may be drawn in connection with the consummation of the Transactions in order to fund a payment from Land to Rexnord LLC of up to approximately $486.6 million pursuant the terms of the Separation Agreement entered into in connection with the Transaction (which is referred to as the "Land Cash Payment"). The loans under the DDTL Facility will bear interest at floating rates, plus an applicable margin determined by reference to a consolidated funded debt to consolidated EBITDA ratio or at an alternative base rate. Upon the effectiveness of the DDTL Facility, the Land Commitment Letter and the commitments thereunder were terminated. No amounts were able to be drawn under the DDTL Facility until the closing. Regal has agreed to indemnify Zurn with respect to certain aspects of the DDTL Facility. See Note 19, Subsequent Events, for additional information related to changes in the Company's debt structure subsequent to September 30, 2021.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements ASC 820, Fair Value Measurement (“ASC 820”) defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. ASC 820 also specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques. Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed assumptions about the assumptions a market participant would use. In accordance with ASC 820, fair value measurements are classified under the following hierarchy: • Level 1 - Quoted prices for identical instruments in active markets. • Level 2 - Quoted prices for similar instruments; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable. • Level 3 - Model-derived valuations in which one or more inputs or value-drivers are both significant to the fair value measurement and unobservable. If applicable, the Company uses quoted market prices in active markets to determine fair value, and therefore classifies such measurements within Level 1. In some cases where market prices are not available, the Company makes use of observable market based inputs to calculate fair value, in which case the measurements are classified within Level 2. If quoted or observable market prices are not available, fair value is based upon internally developed models that use, where possible, current market-based parameters. These measurements are classified within Level 3 if they use significant unobservable inputs. Fair Value of Financial Instruments The Company has a nonqualified deferred compensation plan where assets are invested in mutual funds and corporate-owned life insurance contracts held in a rabbi trust, which is restricted for payments to participants of the plan. The Company has elected to use the fair value option for the mutual funds, which are measured using quoted prices of identical instruments in active markets categorized as Level 1. Corporate-owned life insurance contracts are recorded at cash surrender value, which is provided by a third party and reflects the net asset value of the underlying publicly traded mutual funds categorized as Level 2. The deferred compensation assets are classified within other assets on the condensed consolidated balance sheets. Deferred compensation liabilities are measured at fair value based on quoted prices of identical instruments to the investment vehicles selected by the participants categorized as Level 1. Deferred compensation liabilities are classified within other liabilities on the condensed consolidated balance sheets. The following table provides a summary of the Company's assets and liabilities that were recognized at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 (in millions): Fair Value as of September 30, 2021 Level 1 Level 2 Level 3 Total Deferred compensation assets $ 3.0 $ 11.4 $ — $ 14.4 Deferred compensation liabilities 15.0 — — 15.0 Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Deferred compensation assets $ 1.0 $ 10.7 $ — $ 11.7 Deferred compensation liabilities 11.9 — — 11.9 There were no transfers of assets between levels at September 30, 2021 and December 31, 2020, respectively. Fair Value of Non-Derivative Financial Instruments

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Warranties: The Company offers warranties on the sales of certain products and records an accrual for estimated future claims. Such accruals are based upon historical experience and management's estimate of the level of future claims. The following table presents changes in the Company's product warranty liability (in millions): Nine Months Ended September 30, 2021 September 30, 2020 Balance at beginning of period $ 8.9 $ 6.3 Acquired obligations 0.3 — Charged to operations 2.1 3.8 Claims settled (4.0) (1.8) Balance at end of period $ 7.3 $ 8.3 Contingencies: The Company's subsidiaries are involved in various unresolved legal actions, administrative proceedings and claims in the ordinary course of business involving, among other things, product liability, commercial, employment, workers' compensation, intellectual property claims and environmental matters. The Company establishes accruals in a manner that is consistent with accounting principles generally accepted in the United States for costs associated with such matters when liability is probable and those costs are capable of being reasonably estimated. Although it is not possible to predict with certainty the outcome of these unresolved legal actions or the range of possible loss or recovery, based upon current information, management believes the eventual outcome of these unresolved legal actions, either individually or in the aggregate, will not have a material adverse effect on the financial position, results of operations or cash flows of the Company. In connection with its sale, Invensys plc ("Invensys") provided the Company with indemnification against certain contingent liabilities, including certain pre-closing environmental liabilities. The Company believes that, pursuant to such indemnity obligations, Invensys is obligated to defend and indemnify the Company with respect to the matters described below relating to the Ellsworth Industrial Park Site and to various asbestos claims. The indemnity obligations relating to the matters described below are subject, together with indemnity obligations relating to other matters, to an overall dollar cap equal to the purchase price, which is an amount in excess of $900 million. The following paragraphs summarize the most significant actions and proceedings: • In 2002, Rexnord Industries, LLC ("Rexnord Industries") was named as a potentially responsible party ("PRP"), together with at least ten other companies, at the Ellsworth Industrial Park Site, Downers Grove, DuPage County, Illinois (the "Site"), by the United States Environmental Protection Agency ("USEPA"), and the Illinois Environmental Protection Agency ("IEPA"). Rexnord Industries' Downers Grove property is situated within the Ellsworth Industrial Complex. The USEPA and IEPA allege there have been one or more releases or threatened releases of chlorinated solvents and other hazardous substances, pollutants or contaminants, allegedly including but not limited to a release or threatened release on or from the Company's property, at the Site. The relief sought by the USEPA and IEPA includes further investigation and potential remediation of the Site and reimbursement of USEPA's past costs. In early 2020, Rexnord Industries entered into an administrative order with the USEPA to do remediation work on its Downers Grove property. The remediation work started in 2020 and is on-going. Rexnord Industries' allocated share of past and future costs related to the Site, including for investigation and/or remediation, could be significant. All previously pending property damage and personal injury lawsuits against the Company related to the Site have been settled or dismissed. Pursuant to its indemnity obligation, Invensys continues to defend the Company in known matters related to the Site, including the costs of the remediation work pursuant to the 2020 administrative order, and has paid 100% of the costs to date. • Multiple lawsuits (with approximately 300 claimants) are pending in state or federal court in numerous jurisdictions relating to alleged personal injuries due to the alleged presence of asbestos in certain brakes and clutches previously manufactured by the Company's Stearns division and/or its predecessor owners. Invensys and FMC, prior owners of the Stearns business, have paid 100% of the costs to date related to the Stearns lawsuits. Similarly, the Company's Prager subsidiary is the subject of claims by multiple claimants alleging personal injuries due to the alleged presence of asbestos in a product allegedly manufactured by Prager. However, all these claims are currently on the Texas Multi-district Litigation inactive docket, and the Company does not believe that they will become active in the future. To date, the Company's insurance providers have paid 100% of the costs related to the Prager asbestos matters. The Company believes that the combination of its insurance coverage and the Invensys indemnity obligations will cover any future costs of these matters. In connection with the Company's acquisition of The Falk Corporation ("Falk"), Hamilton Sundstrand provided the Company with indemnification against certain products-related asbestos exposure liabilities. The Company believes that, pursuant to such indemnity obligations, Hamilton Sundstrand is obligated to defend and indemnify the Company with respect to the asbestos claims described below, and that, with respect to these claims, such indemnity obligations are not subject to any time or dollar limitations. The following paragraph summarizes the most significant actions and proceedings for which Hamilton Sundstrand has accepted responsibility: • Falk, through its successor entity, is a defendant in multiple lawsuits pending in state or federal court in numerous jurisdictions relating to alleged personal injuries due to the alleged presence of asbestos in certain clutches and drives previously manufactured by Falk. There are approximately 100 claimants in these suits. The ultimate outcome of these lawsuits cannot presently be determined. Hamilton Sundstrand is defending the Company in these lawsuits pursuant to its indemnity obligations and has paid 100% of the costs to date. Certain Water Management subsidiaries are also subject to asbestos litigation. As of September 30, 2021, Zurn and numerous other unrelated companies were defendants in approximately 6,000 asbestos related lawsuits representing approximately 7,000 claims. Plaintiffs' claims allege personal injuries caused by exposure to asbestos used primarily in industrial boilers formerly manufactured by a segment of Zurn. Zurn did not manufacture asbestos or asbestos components. Instead, Zurn purchased them from suppliers. These claims are being handled pursuant to a defense strategy funded by insurers. As of September 30, 2021, the Company estimates the potential liability for the asbestos-related claims described above as well as the claims expected to be filed in the next ten years to be approximately $59.0 million, of which Zurn expects its insurance carriers to pay approximately $42.0 million in the next ten years on such claims, with the balance of the estimated liability being paid in subsequent years. The $59.0 million was developed based on actuarial studies and represents the projected indemnity payout for current and future claims. There are inherent uncertainties involved in estimating the number of future asbestos claims, future settlement costs, and the effectiveness of defense strategies and settlement initiatives. As a result, actual liability could differ from the estimate described herein and could be substantial. The liability for the asbestos-related claims is recorded in Other liabilities within the condensed consolidated balance sheets. Management estimates that its available insurance to cover this potential asbestos liability as of September 30, 2021, is in excess of the 10 year estimated exposure, and accordingly, believes that all current claims are covered by insurance. As of September 30, 2021, the Company had a recorded receivable from its insurance carriers of $59.0 million, which corresponds to the amount of this potential asbestos liability that is covered by available insurance and is currently determined to be probable of recovery. However, there is no assurance the Company's current insurance coverage will ultimately be available or that this asbestos liability will not ultimately exceed the Company's coverage limits. Factors that could cause a decrease in the amount of available coverage or create gaps in coverage include: changes in law governing the policies, potential disputes and settlements with the carriers regarding the scope of coverage, and insolvencies of one or more of the Company's carriers. The receivable for probable asbestos-related recoveries is recorded in Other assets within the condensed consolidated balance sheets. Certain Company subsidiaries were named as defendants in a number of individual and class action lawsuits in various United States courts claiming damages due to the alleged failure or anticipated failure of Zurn brass fittings on the PEX plumbing systems in homes and other structures. In fiscal 2013, the Company reached a court-approved agreement to settle the liability underlying this litigation. The settlement was designed to resolve, on a national basis, the Company's overall exposure for both known and unknown claims related to the alleged failure or anticipated failure of such fittings. The settlement utilized a seven year claims fund, which was capped at $20.0 million, and was funded in installments over the seven year period based on claim activity and minimum funding criteria. The seven year filing period expired on April 1, 2020. Any claims after April 1, 2020 are time barred. The Company expects to make payment on any remaining timely filed claims and close out the settlement fund. The Company has recorded an accrual for the balance of this liability.

Retirement Benefits

Retirement Benefits	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Retirement Benefits	Retirement Benefits The components of net periodic benefit cost are as follows (in millions): Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Pension Benefits: Service cost $ 0.2 $ 0.2 $ 0.4 $ 0.4 Interest cost 3.7 4.7 11.2 14.7 Expected return on plan assets (4.9) (4.7) (14.7) (14.8) Recognition of actuarial losses — — — 35.9 Net periodic benefit cost $ (1.0) $ 0.2 $ (3.1) $ 36.2 Other Postretirement Benefits: Interest cost $ — $ 0.2 $ 0.2 $ 0.5 Amortization: Prior service credit — (0.1) (0.2) (0.3) Recognition of actuarial gains — — — (0.1) Net periodic benefit cost $ — $ 0.1 $ — $ 0.1 The service cost component of net periodic benefits is presented within Cost of sales and Selling, general and administrative expenses in the condensed consolidated statements of operations, while the other components of net periodic benefit cost are presented within Other income (expense), net. The Company recognizes the net actuarial gains or losses in excess of the corridor in operating results during the final quarter of each fiscal year (or upon any required re-measurement event). During the three months ended March 31, 2020, the Company performed its annual remeasurement as of its previous fiscal year ended March 31, 2020, which resulted in the recognition of a $35.8 million non-cash actuarial loss during the nine months ended September 30, 2020. This amount is recorded within Actuarial loss on pension and postretirement benefit obligations in the condensed consolidated statements of operations. During the nine months ended September 30, 2021 and September 30, 2020, the Company made contributions of $1.9 million and $6.1 million, respectively, to its U.S. qualified pension plan trusts. See Note 16, Retirement Benefits, to the audited consolidated financial statements of the Company's December 31, 2020 Transition Report on Form 10-K for further information regarding retirement benefits.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Zurn Water Solutions Corporation Performance Incentive Plan (the "Plan") is utilized to provide performance incentives to the Company's officers, employees, directors and certain others by permitting grants of equity awards (for common stock), as well as performance-based cash awards, to such persons to encourage them to maximize Zurn's performance and create value for Zurn's stockholders. For the three and nine months ended September 30, 2021, the Company recognized $11.3 million and $38.3 million of stock-based compensation expense, respectively. For the three and nine months ended September 30, 2020, the Company recognized $7.4 million and $28.9 million of stock-based compensation expense, respectively. During the nine months ended September 30, 2021, the Company granted the following stock options, restricted stock units, performance stock units and common stock to directors, executive officers, and certain other employees: Award Type Number of Awards Weighted Average Grant-Date Fair Value Stock options 241,829 $ 15.39 Restricted stock units 261,182 $ 45.15 Performance stock units 258,206 $ 45.10 Common stock 102,846 $ 52.29 See Note 15, Stock-Based Compensation, to the audited consolidated financial statements included in the Company's Transition Report on Form 10-K for the Transition Period ended December 31, 2020, for further information regarding stock-based compensation.

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company's results of operations are reported in two business segments, consisting of the Process & Motion Control platform and the Water Management platform. The Process & Motion Control platform designs, manufactures, markets and services a comprehensive range of specified, highly-engineered mechanical components used within complex systems where customers' reliability requirements and costs of failure or downtime are high. The Process & Motion Control portfolio includes motion control products, shaft management products, aerospace components, and related value-added services. Products and services are marketed and sold globally under widely recognized brand names, including Rexnord®, Rex®, Addax®, Euroflex®, Falk®, FlatTop®, Cambridge®, Link-Belt®, Omega®, PSI®, Shafer®, Stearns®, Highfield®, Thomas®, Centa®, and Tollok TM . Process & Motion Control products and services are sold into a diverse group of attractive end markets, including food and beverage, aerospace, mining, petrochemical, energy and power generation, cement and aggregates, forest and wood products, agriculture, and general industrial and automation applications. On October 4, 2021, the Company completed the disposition of its Process & Motion Control segment. The Water Management platform designs, procures, manufactures, and markets products that provide and enhance water quality, safety, flow control and conservation. The Water Management product portfolio includes professional grade water control and safety, water distribution and drainage, finish plumbing, and site works products for primarily nonresidential buildings. Products are marketed and sold under widely recognized brand names, including Zurn®, Wilkins®, Green Turtle®, World Dryer®, StainlessDrains.com TM , JUST® and Hadrian®. The financial information of the Company's segments is regularly evaluated by the chief operating decision maker in determining resource allocation and assessing performance. Management evaluates the performance of each business segment based on its operating results. The same accounting policies are used throughout the organization. See Note 1, Basis of Presentation and Significant Accounting Policies for further information. Business Segment Information: (in Millions) Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Net sales Process & Motion Control $ 327.5 $ 293.9 $ 973.0 $ 931.9 Water Management 229.7 199.7 678.6 557.8 Consolidated net sales 557.2 493.6 1,651.6 1,489.7 Income from operations Process & Motion Control 57.3 35.8 179.1 136.8 Water Management 48.6 48.7 142.0 130.6 Corporate (16.0) (12.1) (49.0) (41.0) Consolidated income from operations 89.9 72.4 272.1 226.4 Non-operating expense: Interest expense, net (11.0) (11.5) (33.7) (38.3) Actuarial loss on pension and postretirement benefit obligations — — — (35.8) Other (expense) income, net (0.7) 0.6 0.6 (2.6) Income before income taxes 78.2 61.5 239.0 149.7 Provision for income taxes (17.9) (16.1) (55.6) (39.7) Equity method investment income (loss) — — 0.3 (0.2) Net income from continuing operations 60.3 45.4 183.7 109.8 Income from discontinued operations, net of tax 3.8 — 3.8 — Net income 64.1 45.4 187.5 109.8 Non-controlling interest income — — 0.2 0.3 Net income attributable to Zurn $ 64.1 $ 45.4 $ 187.3 $ 109.5 Depreciation and amortization Process & Motion Control $ 14.7 $ 14.8 $ 44.8 $ 44.2 Water Management 8.0 7.4 24.3 21.7 Corporate 0.1 0.1 0.3 0.4 Consolidated $ 22.8 $ 22.3 $ 69.4 $ 66.3 Capital expenditures Process & Motion Control $ 5.1 $ 5.2 $ 17.4 $ 27.0 Water Management 2.5 1.6 4.2 4.2 Consolidated $ 7.6 $ 6.8 $ 21.6 $ 31.2

Guarantor Subsidiaries

Guarantor Subsidiaries	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Guarantor Subsidiaries	Guarantor Subsidiaries The following schedules present condensed consolidating financial information as of September 30, 2021 and December 31, 2020, and for the three and nine month periods ended September 30, 2021 and 2020 for (a) Zurn Water Solutions Corporation, the parent company (the "Parent"); (b) RBS Global, Inc. and its wholly-owned subsidiary Rexnord LLC, which together are co-issuers (the “Issuers”) of the outstanding Notes; (c) on a combined basis, the domestic subsidiaries of the Company, all of which are wholly-owned by the Issuers (collectively, the “Guarantor Subsidiaries”) and guarantors of those Notes; and (d) on a combined basis, the foreign subsidiaries of the Company (collectively, the “Non-Guarantor Subsidiaries”). Separate financial statements of the Guarantor Subsidiaries are not presented because their guarantees of the senior notes and senior subordinated notes are full, unconditional and joint and several, and the Company believes separate financial statements and other disclosures regarding the Guarantor Subsidiaries are not material to investors. Condensed Consolidating Balance Sheets September 30, 2021 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ — $ 228.8 $ 36.1 $ 212.7 $ — $ 477.6 Receivables, net — — 209.0 124.2 — 333.2 Inventories — — 261.4 125.0 — 386.4 Income tax receivable — — 6.8 1.6 — 8.4 Other current assets — — 33.0 24.1 — 57.1 Total current assets — 228.8 546.3 487.6 — 1,262.7 Property, plant and equipment, net — — 264.5 135.0 — 399.5 Intangible assets, net — — 383.5 115.2 — 498.7 Goodwill — — 1,053.4 319.6 — 1,373.0 Investment in: Issuer subsidiaries 1,733.3 — — — (1,733.3) — Guarantor subsidiaries — 3,706.0 — — (3,706.0) — Non-guarantor subsidiaries — — 784.5 — (784.5) — Other assets — 0.5 96.2 58.5 — 155.2 Total assets $ 1,733.3 $ 3,935.3 $ 3,128.4 $ 1,115.9 $ (6,223.8) $ 3,689.1 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 2.4 $ 0.1 $ — $ 2.5 Trade payables — — 139.4 70.9 — 210.3 Compensation and benefits — — 31.6 22.9 — 54.5 Current portion of pension and postretirement benefit obligations — — 1.7 1.4 — 3.1 Other current liabilities — 7.3 94.3 48.7 — 150.3 Total current liabilities — 7.3 269.4 144.0 — 420.7 Long-term debt — 1,119.1 69.7 0.5 — 1,189.3 Note payable to (receivable from) affiliates, net 87.5 1,075.6 (1,220.8) 57.7 — — Pension and postretirement benefit obligations — — 113.1 49.0 — 162.1 Deferred income taxes — — 91.2 21.4 — 112.6 Other liabilities 0.1 — 99.8 58.8 — 158.7 Total liabilities 87.6 2,202.0 (577.6) 331.4 — 2,043.4 Total stockholders' equity 1,645.7 1,733.3 3,706.0 784.5 (6,223.8) 1,645.7 Total liabilities and stockholders' equity $ 1,733.3 $ 3,935.3 $ 3,128.4 $ 1,115.9 $ (6,223.8) $ 3,689.1 Condensed Consolidating Balance Sheets December 31, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 0.5 $ 0.2 $ 46.7 $ 208.2 $ — $ 255.6 Receivables, net — — 165.5 109.3 — 274.8 Inventories — — 221.8 108.3 — 330.1 Income tax receivable — — 8.5 1.3 — 9.8 Other current assets — — 18.6 18.8 — 37.4 Total current assets 0.5 0.2 461.1 445.9 — 907.7 Property, plant and equipment, net — — 292.8 142.0 — 434.8 Intangible assets, net — — 403.0 121.6 — 524.6 Goodwill — — 1,050.3 319.8 — 1,370.1 Investment in: Issuer subsidiaries 1,552.6 — — — (1,552.6) — Guarantor subsidiaries — 3,532.2 — — (3,532.2) — Non-guarantor subsidiaries — — 691.8 — (691.8) — Other assets — 0.7 100.7 62.5 — 163.9 Total assets $ 1,553.1 $ 3,533.1 $ 2,999.7 $ 1,091.8 $ (5,776.6) $ 3,401.1 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 2.3 $ 0.1 $ — $ 2.4 Trade payables — — 72.2 57.2 — 129.4 Compensation and benefits — — 36.6 20.4 — 57.0 Current portion of pension and postretirement benefit obligations — — 1.7 1.4 — 3.1 Other current liabilities — 1.2 77.8 46.6 — 125.6 Total current liabilities — 1.2 190.6 125.7 — 317.5 Long-term debt — 1,117.8 70.7 0.7 — 1,189.2 Note payable to (receivable from), net 113.1 861.5 (1,111.6) 137.0 — — Pension and postretirement benefit obligations — — 119.2 52.2 — 171.4 Deferred income taxes — — 96.8 22.6 — 119.4 Other liabilities 0.7 — 101.8 61.8 — 164.3 Total liabilities 113.8 1,980.5 (532.5) 400.0 — 1,961.8 Total stockholders' equity 1,439.3 1,552.6 3,532.2 691.8 (5,776.6) 1,439.3 Total liabilities and stockholders' equity $ 1,553.1 $ 3,533.1 $ 2,999.7 $ 1,091.8 $ (5,776.6) $ 3,401.1 Condensed Consolidating Statements of Operations For the Nine Months Ended September 30, 2021 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 1,212.1 $ 596.6 $ (157.1) $ 1,651.6 Cost of sales — — 725.5 420.7 (157.1) 989.1 Gross profit — — 486.6 175.9 — 662.5 Selling, general and administrative expenses — — 275.1 84.0 — 359.1 Restructuring and other similar charges — — 1.4 2.3 — 3.7 Amortization of intangible assets — — 21.6 6.0 — 27.6 Income from operations — — 188.5 83.6 — 272.1 Non-operating income (expense): Interest income (expense), net: To third parties — (29.6) (4.1) — — (33.7) To affiliates 32.5 75.3 (85.2) (22.6) — — Other (expense) income, net — — (1.5) 2.1 — 0.6 Income before income taxes 32.5 45.7 97.7 63.1 — 239.0 Provision for income taxes (0.1) (0.1) (35.6) (19.8) — (55.6) Equity method investment income — — — 0.3 — 0.3 Income before equity in earnings of subsidiaries 32.4 45.6 62.1 43.6 — 183.7 Equity in income of subsidiaries 155.1 109.5 45.4 — (310.0) — Net income from continuing operations 187.5 155.1 107.5 43.6 (310.0) 183.7 Income from discontinued operations, net of tax — — 2.0 1.8 — 3.8 Net income 187.5 155.1 109.5 45.4 (310.0) 187.5 Non-controlling interest income — — — 0.2 — 0.2 Net income attributable to Zurn $ 187.5 $ 155.1 $ 109.5 $ 45.2 $ (310.0) $ 187.3 Comprehensive income $ 187.5 $ 152.8 $ 109.9 $ 40.5 $ (310.0) $ 180.7 Condensed Consolidating Statements of Operations For the Three Months Ended September 30, 2021 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 410.2 $ 201.2 $ (54.2) $ 557.2 Cost of sales — — 245.5 147.1 (54.2) 338.4 Gross profit — — 164.7 54.1 — 218.8 Selling, general and administrative expenses — — 89.3 28.5 — 117.8 Restructuring and other similar charges — — 0.9 1.1 — 2.0 Amortization of intangible assets — — 7.1 2.0 — 9.1 Income from operations — — 67.4 22.5 — 89.9 Non-operating income (expense): Interest income (expense), net: To third parties — (9.9) (1.1) — — (11.0) To affiliates 10.9 64.7 (55.6) (20.0) — — Other (expense) income, net — — (0.4) (0.3) — (0.7) Income before income taxes 10.9 54.8 10.3 2.2 — 78.2 Provision for income taxes (0.1) (0.1) (12.1) (5.6) — (17.9) Equity method investment income — — — — — — Income (loss) before equity in earnings of subsidiaries 10.8 54.7 (1.8) (3.4) — 60.3 Equity in income (loss) of subsidiaries 53.3 (1.4) (1.6) — (50.3) — Net income (loss) 64.1 53.3 (3.4) (3.4) (50.3) 60.3 Income from discontinued operations, net of tax — — 2.0 1.8 — 3.8 Net income (loss) 64.1 53.3 (1.4) (1.6) (50.3) 64.1 Non-controlling interest income — — — — — — Net income (loss) attributable to Zurn $ 64.1 $ 53.3 $ (1.4) $ (1.6) $ (50.3) $ 64.1 Comprehensive income (loss) $ 64.1 $ 52.4 $ (2.8) $ (9.6) $ (50.3) $ 53.8 Condensed Consolidating Statements of Operations For the Nine Months Ended September 30, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 1,119.8 $ 487.3 $ (117.4) $ 1,489.7 Cost of sales — — 675.3 345.3 (117.4) 903.2 Gross profit — — 444.5 142.0 — 586.5 Selling, general and administrative expenses — — 247.7 70.4 — 318.1 Restructuring and other similar charges — — 7.6 7.3 — 14.9 Amortization of intangible assets — — 22.1 5.0 — 27.1 Income from operations — — 167.1 59.3 — 226.4 Non-operating income (expense): Interest income (expense), net: To third parties — (35.5) (2.9) 0.1 — (38.3) To affiliates 29.0 27.3 (34.6) (21.7) — — Actuarial loss on pension and postretirement benefit obligations — — (34.9) (0.9) — (35.8) Other expense, net — (0.1) (1.0) (1.5) — (2.6) Income (loss) before income taxes 29.0 (8.3) 93.7 35.3 — 149.7 Provision for income taxes — (0.5) (25.6) (13.6) — (39.7) Equity method investment loss — — — (0.2) — (0.2) Income (loss) before equity in earnings of subsidiaries 29.0 (8.8) 68.1 21.5 — 109.8 Equity in income of subsidiaries 80.8 89.6 21.5 — (191.9) — Net income 109.8 80.8 89.6 21.5 (191.9) 109.8 Non-controlling interest income — — — 0.3 — 0.3 Net income attributable to Zurn $ 109.8 $ 80.8 $ 89.6 $ 21.2 $ (191.9) $ 109.5 Comprehensive income $ 109.8 $ 83.5 $ 88.0 $ 19.6 $ (191.9) $ 109.0 Condensed Consolidating Statements of Operations For the Three Months Ended September 30, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 365.7 $ 172.3 $ (44.4) $ 493.6 Cost of sales — — 224.5 120.4 (44.4) 300.5 Gross profit — — 141.2 51.9 — 193.1 Selling, general and administrative expenses — — 80.9 24.2 — 105.1 Restructuring and other similar charges — — 2.2 4.4 — 6.6 Amortization of intangible assets — — 7.4 1.6 — 9.0 Income from operations — — 50.7 21.7 — 72.4 Non-operating income (expense): Interest income (expense), net: To third parties — (10.0) (1.6) 0.1 — (11.5) To affiliates 9.6 5.4 (14.6) (0.4) — — Other (expense) income, net — (0.1) (0.2) 0.9 — 0.6 Income (loss) before income taxes 9.6 (4.7) 34.3 22.3 — 61.5 Provision for income taxes — — (9.7) (6.4) — (16.1) Equity method investment income — — — — — — Income (loss) before equity in earnings of subsidiaries 9.6 (4.7) 24.6 15.9 — 45.4 Equity in income of subsidiaries 35.8 40.5 15.9 — (92.2) — Net income 45.4 35.8 40.5 15.9 (92.2) 45.4 Non-controlling interest income — — — — — — Net income attributable to Zurn $ 45.4 $ 35.8 $ 40.5 $ 15.9 $ (92.2) $ 45.4 Comprehensive income $ 45.4 $ 37.9 $ 40.6 $ 26.6 $ (92.2) $ 58.3 Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2021 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by (used for) operating activities $ 10.9 $ 228.6 $ (2.3) $ 8.6 $ — $ 245.8 Investing activities Expenditures for property, plant and equipment — — (12.7) (8.9) — (21.6) Acquisitions, net of cash acquired — — (3.4) — — (3.4) Proceeds from dispositions of long-lived assets — — 9.5 9.0 — 18.5 Cash (used for) provided by investing activities — — (6.6) 0.1 — (6.5) Financing activities Repayments of debt — — (1.7) — — (1.7) Proceeds from exercise of stock options 23.5 — — — — 23.5 Taxes withheld and paid on employees' share-based payment awards (1.4) — — — — (1.4) Repurchase of common stock (0.9) — — — — (0.9) Payment of common stock dividend (32.6) — — — — (32.6) Cash used for financing activities (11.4) — (1.7) — — (13.1) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — (4.2) — (4.2) (Decrease) increase in cash, cash equivalents and restricted cash (0.5) 228.6 (10.6) 4.5 — 222.0 Cash, cash equivalents and restricted cash at beginning of period 0.5 0.2 46.7 208.2 — 255.6 Cash, cash equivalents and restricted cash at end of period $ — $ 228.8 $ 36.1 $ 212.7 $ — $ 477.6 Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2020 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by operating activities $ 107.7 $ 0.1 $ 66.9 $ 63.0 $ — $ 237.7 Investing activities Expenditures for property, plant and equipment — — (21.0) (10.2) — (31.2) Acquisitions, net of cash acquired — — (59.4) — — (59.4) Proceeds from dispositions of long-lived assets — — 1.8 7.2 — 9.0 Cash used for investing activities — — (78.6) (3.0) — (81.6) Financing activities Proceeds from borrowings of long-term debt — 250.0 81.0 — — 331.0 Repayments of debt — (250.0) (81.5) (0.6) — (332.1) Repurchase of common stock (95.7) — — — — (95.7) Payment of common stock dividends (29.0) — — — — (29.0) Proceeds from exercise of stock options 26.4 — — — — 26.4 Taxes withheld and paid on employees' share-based payment awards (9.4) — — — — (9.4) Cash used for financing activities (107.7) — (0.5) (0.6) — (108.8) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — 2.3 — 2.3 Increase (decrease) in cash, cash equivalents and restricted cash — 0.1 (12.2) 61.7 — 49.6 Cash, cash equivalents and restricted cash at beginning of period — — 117.4 159.6 — 277.0 Cash, cash equivalents and restricted cash at end of period $ — $ 0.1 $ 105.2 $ 221.3 $ — $ 326.6

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Transaction closed on October 4, 2021. Following completion of the Transaction, the Company changed its name to “Zurn Water Solutions Corporation”; shares of the Company's common stock trade on the New York Stock Exchange under the ticker symbol “ZWS”. In connection with the closing of the Transaction, the Company expects to incur approximately $65.0 million of transaction and refinancing related fees during the fourth quarter of 2021. Fourth Amended and Restated First Lien Credit Agreement On October 4, 2021, RBS Global, Inc., a Delaware corporation renamed “ZBS Global, Inc.” on October 4, 2021 (“Holdings”), Zurn Holdings, Inc., a Delaware corporation (“Zurn Holdings”), Rexnord LLC, a Delaware limited liability company renamed “Zurn LLC” on October 4, 2021 (“Zurn” and, together with Zurn Holdings, the “Borrowers”), the lenders from time to time party thereto (“Lenders”), and Credit Suisse AG, Cayman Islands Branch, as administrative agent (in such capacity, the “Administrative Agent”) for the Lenders entered into a Fourth Amended and Restated First Lien Credit Agreement (the “Restated Credit Agreement”). The Restated Credit Agreement amends and restates in its entirety the Third Amended and Restated First Lien Credit Agreement, dated as of August 21, 2013, by and among Chase Acquisition I, Inc., a Delaware corporation, Holdings, Zurn, the several lenders party thereto from time to time and the Administrative Agent, as administrative agent thereunder (the “Existing Credit Agreement”). Pursuant to the Restated Credit Agreement, the Lenders have provided to the Borrowers (i) a $550 million Term B Loan (the “Term B Loan”) and (ii) a $200 million revolving line of credit under which the Borrowers may borrow revolving credit loans and multicurrency swing loans (subject to certain sublimits) and cause to be issued letters of credit (subject to certain sublimits), in an aggregate principal amount not to exceed $200 million outstanding at any time. The maturity date for the revolving line of credit is October 4, 2026 and the maturity date of the term loan is October 4, 2028. The Restated Credit Agreement also makes certain other technical changes to the Existing Credit Agreement, such as modifying provisions related to the potential future replacement of the London Interbank Offered Rate (“LIBOR”). In addition, the DDTL Facility discussed in Note 12 was drawn in connection with the consummation of the Transactions in order to fund the Land Cash Payment from Land to Rexnord LLC of approximately $486.6 million pursuant the terms of the Separation Agreement entered into in connection with the Transaction. The proceeds of the term loan were, together with the Land Cash Payment associated with the DDTL Facility discussed in and cash on hand, used to (i) repay in full the $625.0 million aggregate principal amount of term B loans outstanding under the Existing Credit Agreement, together with accrued interest thereon, (ii) redeem the $500.0 million outstanding principal amount of 4.875% Senior Notes due 2025 issued by Holdings and Zurn pursuant to an Indenture dated as of December 7, 2017, among Holdings, Zurn, the guarantors named therein and Wells Fargo Bank, National Association, as Trustee, at a redemption price equal to 102.438% of the principal amount thereof plus accrued and unpaid interest and (iii) pay related fees and expenses. The obligations under the Restated Credit Agreement and related documents are secured by liens on substantially all of the assets of Holdings, the Borrowers, and certain subsidiaries of the Borrowers pursuant to a Third Amended and Restated Guarantee and Collateral Agreement, dated as of October 4, 2021, among Holdings, the Borrowers, the subsidiaries of the Borrowers party thereto, and the Administrative Agent (the “Restated Guarantee and Collateral Agreement”), and certain other collateral documents. Loans under the Restated Credit Agreement bear interest, at the Borrowers’ option, by reference to a base rate or a rate based on LIBOR, in either case, plus an applicable margin determined quarterly based on the Borrowers’ Net First Lien Leverage Ratio (as defined in the Restated Credit Agreement) as of the last day of each fiscal quarter. The Term B Loan has an effective current interest rate of 2.75%, determined on the basis of adjusted LIBOR (subject to a 0.50% floor) plus 2.25%. Prior to maturity, the Term B Loan will be subject to quarterly amortization of 0.25% of the initial principal amount. The Borrowers are also required to pay a quarterly commitment fee on the average daily unused portion of the revolving line of credit for each fiscal quarter and fees in connection with the issuance of letters of credit. Certain prepayments of the term loan occurring on or prior to April 4, 2022 are subject to a 1.00% prepayment penalty. The Restated Credit Agreement contains representations, warranties, covenants and events of default, including, without limitation, a financial covenant under which the Borrowers are, if certain conditions are met, obligated to maintain on a consolidated basis, as of the end of each fiscal quarter, a certain maximum Net First Lien Leverage Ratio (as defined in the Restated Credit Agreement). Retirement Benefits In connection with the aforementioned transaction with Regal, the transfer of net assets associated with the PMC segment will include approximately $80.0 million of unfunded pension and postretirement benefit obligations. In accordance with the authoritative guidance, the transfer of the pension and postretirement benefit obligations will require the Company to perform an interim remeasurement of certain of its pension and postretirement benefit plans at the time of the transfer. As discussed in Note 15, upon remeasurement of pension and postretirement benefit obligations the Company recognizes net actuarial gains or losses in excess of the corridor in operating results at the time of the remeasurement event. The Company anticipates it will recognize approximately $7.0 million of non-cash actuarial losses in connection with this policy during the fourth quarter of 2021.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"). The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate that is expected to be discontinued because of reference rate reform. The amendments in this update provide optional expedients and exceptions for applying GAAP to instruments affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this ASU are effective for all entities as of March 12, 2020, through December 31, 2022. The Company did not modify any material contracts due to reference rate reform during the three and nine months ended September 30, 2021. The Company will continue to evaluate the impact this guidance will have on its consolidated financial statements for all future transactions affected by reference rate reform during the time period referenced above. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ( "ASU 2019-12" )
Revenue Recognition	Revenue Recognition A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606, Revenue from Contracts with Customers ("ASC 606"). A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized when obligations under the terms of a contract with the customer are satisfied. For the majority of the Company's product sales, revenue is recognized at a point-in-time when control of the product is transferred to the customer, which generally occurs when the product is shipped from the Company's manufacturing facility to the customer. When contracts include multiple products to be delivered to the customer, generally each product is separately priced and is determined to be distinct within the context of the contract. Other than a standard assurance-type warranty that the product will conform to agreed-upon specifications, there are generally no other significant post-shipment obligations. The expected costs associated with standard warranties continues to be recognized as an expense when the products are sold. When the contract provides the customer the right to return eligible products or when the customer is part of a sales rebate program, the Company reduces revenue at the point of sale using current facts and historical experience by using an estimate for expected product returns and rebates associated with the transaction. The Company adjusts these estimates at the earlier of when the most likely amount of consideration that is expected to be received changes or when the consideration becomes fixed. Accordingly, an increase or decrease to revenue is recognized at that time. Sales and other taxes collected concurrent with revenue-producing activities are excluded from revenue. The Company has elected to recognize the cost for freight and shipping when control of products has transferred to the customer as a component of cost of sales in the condensed consolidated statements of operations. The Company classifies shipping and handling fees billed to customers as net sales and the corresponding costs are classified as Cost of sales in the condensed consolidated statements of operations. Timing of Performance Obligations Satisfied at a Point in Time The Company determined that the customer is able to control the product when it is delivered to them; thus, depending on the shipping terms, control will transfer at different points between the Company's manufacturing facility or warehouse and the customer’s location. The Company considers control to have transferred upon shipment or delivery because the Company has a present right to payment at that time, the customer has legal title to the asset, the Company has transferred physical possession of the asset, and the customer has significant risks and rewards of ownership of the asset. Variable Consideration The Company provides volume-based rebates and the right to return product to certain customers, which are accrued for based on current facts and historical experience. Rebates are paid either on an annual or quarterly basis. There are no other significant variable consideration elements included in the Company's contracts with customers. Contract Costs The Company has elected to expense contract costs as incurred if the amortization period is expected to be one year or less. If the amortization period of these costs is expected to be greater than one year, the costs would be subject to capitalization. As of September 30, 2021, the contract assets capitalized, as well as amortization recognized in the three and nine months ended September 30, 2021, are not significant and there have been no impairment losses recognized. Allowance for Doubtful Accounts
Fair Value of Financial Instruments	The Company has a nonqualified deferred compensation plan where assets are invested in mutual funds and corporate-owned life insurance contracts held in a rabbi trust, which is restricted for payments to participants of the plan. The Company has elected to use the fair value option for the mutual funds, which are measured using quoted prices of identical instruments in active markets categorized as Level 1. Corporate-owned life insurance contracts are recorded at cash surrender value, which is provided by a third party and reflects the net asset value of the underlying publicly traded mutual funds categorized as Level 2. The deferred compensation assets are classified within other assets on the condensed consolidated balance sheets. Deferred compensation liabilities are measured at fair value based on quoted prices of identical instruments to the investment vehicles selected by the participants categorized as Level 1. Deferred compensation liabilities are classified within other liabilities on the condensed consolidated balance sheets.

Restructuring and Other Simil_2

Restructuring and Other Similar Charges (Tables)	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table summarizes the Company's restructuring and other similar charges during the three and nine months ended September 30, 2021 and September 30, 2020, by classification of operating segment (in millions): Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 1.1 $ 0.1 $ 0.6 $ 1.8 Contract termination and other associated costs 0.2 — — 0.2 Total restructuring and other similar costs $ 1.3 $ 0.1 $ 0.6 $ 2.0 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 1.3 $ 1.0 $ 0.6 $ 2.9 Contract termination and other associated costs 0.8 — — 0.8 Total restructuring and other similar costs $ 2.1 $ 1.0 $ 0.6 $ 3.7 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 5.6 $ 0.1 $ — $ 5.7 Contract termination and other associated costs 1.1 — (0.2) 0.9 Total restructuring and other similar costs $ 6.7 $ 0.1 $ (0.2) $ 6.6 Restructuring and Other Similar Charges Process & Motion Control Water Management Corporate Consolidated Employee termination benefits $ 11.1 $ 1.1 $ 0.2 $ 12.4 Contract termination and other associated costs 2.5 0.1 (0.1) 2.5 Total restructuring and other similar costs $ 13.6 $ 1.2 $ 0.1 $ 14.9
Summary of Activity in Restructuring Accrual	The following table summarizes the activity in the Company's restructuring accrual for the nine months ended September 30, 2021 (in millions): Employee termination benefits Contract termination and other associated costs Total Restructuring accrual, December 31, 2020 (1) $ 6.1 $ 0.7 $ 6.8 Charges 2.9 0.8 3.7 Cash payments (6.2) (1.3) (7.5) Restructuring accrual, September 30, 2021 (1) $ 2.8 $ 0.2 $ 3.0 ____________________ (1) The restructuring accrual is included in other current liabilities in the condensed consolidated balance sheets.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present the Company's revenue disaggregated by customer type and originating geography (in millions): Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Original equipment manufacturers/end users $ 179.5 $ 167.6 $ 537.1 $ 526.8 Maintenance, repair, and operations 148.0 126.3 435.9 405.1 Total Process & Motion Control $ 327.5 $ 293.9 $ 973.0 $ 931.9 Water safety, quality, flow control and conservation $ 215.0 $ 187.2 $ 630.7 $ 521.4 Water infrastructure 14.7 12.5 47.9 36.4 Total Water Management $ 229.7 $ 199.7 $ 678.6 $ 557.8 Three Months Ended Nine Months Ended Process & Motion Control Water Management Process & Motion Control Water Management United States and Canada $ 201.1 $ 228.4 $ 590.7 $ 675.0 Europe 74.7 — 229.0 — Rest of world 51.7 1.3 153.3 3.6 Total $ 327.5 $ 229.7 $ 973.0 $ 678.6 Three Months Ended Nine Months Ended Process & Motion Control Water Management Process & Motion Control Water Management United States and Canada $ 168.6 $ 194.7 $ 569.1 $ 546.0 Europe 75.7 — 223.6 — Rest of world 49.6 5.0 139.2 11.8 Total $ 293.9 $ 199.7 $ 931.9 $ 557.8
Changes in Contract Assets and Liabilities	The following table presents changes in the Company’s contract assets and liabilities during the nine months ended September 30, 2021 (in millions): Balance Sheet Classification December 31, 2020 Additions Deductions September 30, 2021 Contract assets Receivables, net $ 0.1 $ — $ (0.1) $ — Contract liabilities (1) Other current liabilities $ 4.0 $ 2.1 $ (1.5) $ 4.6 ____________________

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Schedule of Stockholders' Equity	Stockholders' equity consists of the following (in millions): Common stock Additional paid-in capital Retained earnings Accumulated other comprehensive loss Non-controlling interest Total stockholders’ equity Balance at December 31, 2019 $ 1.2 $ 1,320.9 $ 147.9 $ (104.4) $ 2.6 $ 1,368.2 Total comprehensive income (loss) — — 28.5 (20.0) 0.1 8.6 Stock-based compensation expense — 8.2 — — — 8.2 Proceeds from exercise of stock options — 19.2 — — — 19.2 Repurchase of common stock — — (80.7) — — (80.7) Common stock dividends ($0.08 per share) — — (9.8) — — (9.8) Balance at March 31, 2020 1.2 1,348.3 85.9 (124.4) 2.7 1,313.7 Total comprehensive income — — 35.6 6.3 0.2 42.1 Stock-based compensation expense — 10.6 — — — 10.6 Proceeds from exercise of stock options — 6.3 — — — 6.3 Taxes withheld and paid on employees' share-based payment awards — (9.4) — — — (9.4) Common stock dividends ($0.08 per share) — — (9.6) — — (9.6) Balance at June 30, 2020 1.2 1,355.8 111.9 (118.1) 2.9 1,353.7 Total comprehensive income — — 45.4 12.9 — 58.3 Stock-based compensation expense — 10.1 — — — 10.1 Proceeds from exercise of stock options — 0.9 — — — 0.9 Repurchase of common stock — — (15.0) — — (15.0) Common stock dividends ($0.08 per share) — — (9.6) — — (9.6) Balance at September 30, 2020 $ 1.2 $ 1,366.8 $ 132.7 $ (105.2) $ 2.9 $ 1,398.4 Common stock (1) Additional Retained Accumulated Non-controlling interest (2) Total Balance at December 31, 2020 $ 1.2 $ 1,392.9 $ 116.0 $ (73.8) $ 3.0 $ 1,439.3 Total comprehensive income (loss) — — 50.0 (1.8) 0.1 48.3 Stock-based compensation expense — 14.2 — — — 14.2 Proceeds from exercise of stock options — 2.8 — — — 2.8 Repurchase of common stock — — (0.9) — — (0.9) Common stock dividends ($0.09 per share) — — (10.8) — — (10.8) Balance at March 31, 2021 1.2 1,409.9 154.3 (75.6) 3.1 1,492.9 Total comprehensive income — — 73.2 5.3 0.1 78.6 Stock-based compensation expense — 11.6 — — — 11.6 Proceeds from exercise of stock options — 16.6 — — — 16.6 Taxes withheld and paid on employees' share-based payment awards — (1.4) — — — (1.4) Common stock dividends ($0.09 per share) — — (10.8) — — (10.8) Balance at June 30, 2021 1.2 1,436.7 216.7 (70.3) 3.2 1,587.5 Total comprehensive income (loss) — — 64.1 (10.3) — 53.8 Stock-based compensation expense — 11.3 — — — 11.3 Proceeds from exercise of stock options — 4.1 — — — 4.1 Common stock dividends ($0.09 per share) — — (11.0) — — (11.0) Balance at September 30, 2021 $ 1.2 $ 1,452.1 $ 269.8 $ (80.6) $ 3.2 $ 1,645.7 ____________________ (1) For the three and nine months ended September 30, 2021, the Company issued 282,402 and 1,820,879 shares of common stock upon the exercise of stock options, vesting of restricted stock units, and for other common stock awards, respectively. (2) On November 24, 2020, the Company acquired the remaining 30% non-controlling interest associated with one Process & Motion Control joint venture for a cash purchase price of $0.3 million. Following this transaction, represents a 5% non-controlling interest in one remaining Process & Motion Control controlled subsidiary.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The changes in accumulated other comprehensive loss, net of tax, for the nine months ended September 30, 2021, are as follows (in millions): Foreign Currency Translation Pension and Postretirement Plans Total Balance at December 31, 2020 $ (46.0) $ (27.8) $ (73.8) Other comprehensive loss before reclassifications (6.6) — (6.6) Amounts reclassified from accumulated other comprehensive loss — (0.2) (0.2) Net current period other comprehensive loss (6.6) (0.2) (6.8) Balance at September 30, 2021 $ (52.6) $ (28.0) $ (80.6)
Reclassification out of Accumulated Other Comprehensive Loss	The following table summarizes the amounts reclassified from accumulated other comprehensive loss to net income during the three and nine months ended September 30, 2021 and September 30, 2020 (in millions): Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Income Statement Line Pension and other postretirement plans Amortization of prior service credit $ — $ (0.1) $ (0.2) $ (0.3) Other income (expense), net Provision for income taxes — — — — Total net of tax $ — $ (0.1) $ (0.2) $ (0.3)

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory, Net [Abstract]
Summary of Major Classes of Inventories	The major classes of inventories are summarized as follows (in millions): September 30, 2021 December 31, 2020 Finished goods $ 182.5 $ 164.6 Work in progress 42.4 38.6 Purchased components 89.9 70.6 Raw materials 76.2 53.4 Inventories at First-in, First-Out ("FIFO") cost 391.0 327.2 Adjustment to state inventories at Last-in, First-Out ("LIFO") cost (4.6) 2.9 $ 386.4 $ 330.1

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	The changes in the net carrying value of goodwill for the nine months ended September 30, 2021, by operating segment are presented below (in millions): Process & Motion Control Water Management Consolidated Net carrying amount as of December 31, 2020 $ 1,125.3 $ 244.8 $ 1,370.1 Currency translation adjustments (0.6) 0.5 (0.1) Acquisition (1) — 2.7 2.7 Purchase accounting adjustments (1) — 0.3 0.3 Net carrying amount as of September 30, 2021 $ 1,124.7 $ 248.3 $ 1,373.0 ____________________ (1) Refer to Note 2, Acquisitions and Divestiture for additional information regarding acquisitions.
Schedule of Gross Carrying Amount and Accumulated Amortization for Finite-Lived Intangible Assets	The gross carrying amount and accumulated amortization for each major class of identifiable intangible assets as of September 30, 2021 and December 31, 2020 are as follows (in millions): September 30, 2021 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 52.1 $ (42.8) $ 9.3 Customer relationships (including distribution network) 14 years 781.7 (597.7) 184.0 Tradenames 13 years 43.9 (19.4) 24.5 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,158.6 $ (659.9) $ 498.7 December 31, 2020 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 52.0 $ (42.2) $ 9.8 Customer relationships (including distribution network) 14 years 784.9 (578.0) 206.9 Tradenames 13 years 44.1 (17.1) 27.0 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,161.9 $ (637.3) $ 524.6
Schedule of Gross Carrying Amount and Accumulated Amortization for Infinite-Lived Intangible Assets	The gross carrying amount and accumulated amortization for each major class of identifiable intangible assets as of September 30, 2021 and December 31, 2020 are as follows (in millions): September 30, 2021 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 52.1 $ (42.8) $ 9.3 Customer relationships (including distribution network) 14 years 781.7 (597.7) 184.0 Tradenames 13 years 43.9 (19.4) 24.5 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,158.6 $ (659.9) $ 498.7 December 31, 2020 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Patents 10 years $ 52.0 $ (42.2) $ 9.8 Customer relationships (including distribution network) 14 years 784.9 (578.0) 206.9 Tradenames 13 years 44.1 (17.1) 27.0 Intangible assets not subject to amortization - tradenames 280.9 — 280.9 Total intangible assets, net 13 years $ 1,161.9 $ (637.3) $ 524.6

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	Other current liabilities are summarized as follows (in millions): September 30, 2021 December 31, 2020 Contract liabilities $ 4.6 $ 4.0 Sales rebates 48.1 35.7 Commissions 8.7 5.9 Restructuring and other similar charges (1) 3.0 6.8 Product warranty (2) 7.3 8.9 Risk management (3) 12.5 10.5 Legal and environmental 3.3 2.4 Taxes, other than income taxes 9.7 7.7 Income tax payable 16.8 14.5 Interest payable 7.4 1.4 Current portion of operating lease liability 14.6 13.3 Other 14.3 14.5 $ 150.3 $ 125.6 ____________________ (1) See more information related to the restructuring obligations within Note 3, Restructuring and Other Similar Charges. (2) See more information related to the product warranty obligations within Note 14, Commitments and Contingencies. (3) Includes projected liabilities related to losses arising from automobile, general and product liability claims.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt is summarized as follows (in millions): September 30, 2021 December 31, 2020 Term loan (1) $ 622.2 $ 621.5 4.875% Senior Notes due 2025 (2) 496.9 496.3 Finance leases and other subsidiary debt 72.7 73.8 Total 1,191.8 1,191.6 Less current maturities 2.5 2.4 Long-term debt $ 1,189.3 $ 1,189.2 ____________________ (1) Includes unamortized debt issuance costs of $2.8 million and $3.5 million at September 30, 2021 and December 31, 2020, respectively. (2) Includes unamortized debt issuance costs of $3.1 million and $3.7 million at September 30, 2021 and December 31, 2020, respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Recognized at Fair Value on a Recurring Basis	The following table provides a summary of the Company's assets and liabilities that were recognized at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 (in millions): Fair Value as of September 30, 2021 Level 1 Level 2 Level 3 Total Deferred compensation assets $ 3.0 $ 11.4 $ — $ 14.4 Deferred compensation liabilities 15.0 — — 15.0 Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Deferred compensation assets $ 1.0 $ 10.7 $ — $ 11.7 Deferred compensation liabilities 11.9 — — 11.9

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	The following table presents changes in the Company's product warranty liability (in millions): Nine Months Ended September 30, 2021 September 30, 2020 Balance at beginning of period $ 8.9 $ 6.3 Acquired obligations 0.3 — Charged to operations 2.1 3.8 Claims settled (4.0) (1.8) Balance at end of period $ 7.3 $ 8.3

Retirement Benefits (Tables)

Retirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The components of net periodic benefit cost are as follows (in millions): Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Pension Benefits: Service cost $ 0.2 $ 0.2 $ 0.4 $ 0.4 Interest cost 3.7 4.7 11.2 14.7 Expected return on plan assets (4.9) (4.7) (14.7) (14.8) Recognition of actuarial losses — — — 35.9 Net periodic benefit cost $ (1.0) $ 0.2 $ (3.1) $ 36.2 Other Postretirement Benefits: Interest cost $ — $ 0.2 $ 0.2 $ 0.5 Amortization: Prior service credit — (0.1) (0.2) (0.3) Recognition of actuarial gains — — — (0.1) Net periodic benefit cost $ — $ 0.1 $ — $ 0.1

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Share-Based Payments	During the nine months ended September 30, 2021, the Company granted the following stock options, restricted stock units, performance stock units and common stock to directors, executive officers, and certain other employees: Award Type Number of Awards Weighted Average Grant-Date Fair Value Stock options 241,829 $ 15.39 Restricted stock units 261,182 $ 45.15 Performance stock units 258,206 $ 45.10 Common stock 102,846 $ 52.29

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Business Segment Information: (in Millions) Three Months Ended Nine Months Ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Net sales Process & Motion Control $ 327.5 $ 293.9 $ 973.0 $ 931.9 Water Management 229.7 199.7 678.6 557.8 Consolidated net sales 557.2 493.6 1,651.6 1,489.7 Income from operations Process & Motion Control 57.3 35.8 179.1 136.8 Water Management 48.6 48.7 142.0 130.6 Corporate (16.0) (12.1) (49.0) (41.0) Consolidated income from operations 89.9 72.4 272.1 226.4 Non-operating expense: Interest expense, net (11.0) (11.5) (33.7) (38.3) Actuarial loss on pension and postretirement benefit obligations — — — (35.8) Other (expense) income, net (0.7) 0.6 0.6 (2.6) Income before income taxes 78.2 61.5 239.0 149.7 Provision for income taxes (17.9) (16.1) (55.6) (39.7) Equity method investment income (loss) — — 0.3 (0.2) Net income from continuing operations 60.3 45.4 183.7 109.8 Income from discontinued operations, net of tax 3.8 — 3.8 — Net income 64.1 45.4 187.5 109.8 Non-controlling interest income — — 0.2 0.3 Net income attributable to Zurn $ 64.1 $ 45.4 $ 187.3 $ 109.5 Depreciation and amortization Process & Motion Control $ 14.7 $ 14.8 $ 44.8 $ 44.2 Water Management 8.0 7.4 24.3 21.7 Corporate 0.1 0.1 0.3 0.4 Consolidated $ 22.8 $ 22.3 $ 69.4 $ 66.3 Capital expenditures Process & Motion Control $ 5.1 $ 5.2 $ 17.4 $ 27.0 Water Management 2.5 1.6 4.2 4.2 Consolidated $ 7.6 $ 6.8 $ 21.6 $ 31.2

Guarantor Subsidiaries (Tables)

Guarantor Subsidiaries (Tables)	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets September 30, 2021 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ — $ 228.8 $ 36.1 $ 212.7 $ — $ 477.6 Receivables, net — — 209.0 124.2 — 333.2 Inventories — — 261.4 125.0 — 386.4 Income tax receivable — — 6.8 1.6 — 8.4 Other current assets — — 33.0 24.1 — 57.1 Total current assets — 228.8 546.3 487.6 — 1,262.7 Property, plant and equipment, net — — 264.5 135.0 — 399.5 Intangible assets, net — — 383.5 115.2 — 498.7 Goodwill — — 1,053.4 319.6 — 1,373.0 Investment in: Issuer subsidiaries 1,733.3 — — — (1,733.3) — Guarantor subsidiaries — 3,706.0 — — (3,706.0) — Non-guarantor subsidiaries — — 784.5 — (784.5) — Other assets — 0.5 96.2 58.5 — 155.2 Total assets $ 1,733.3 $ 3,935.3 $ 3,128.4 $ 1,115.9 $ (6,223.8) $ 3,689.1 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 2.4 $ 0.1 $ — $ 2.5 Trade payables — — 139.4 70.9 — 210.3 Compensation and benefits — — 31.6 22.9 — 54.5 Current portion of pension and postretirement benefit obligations — — 1.7 1.4 — 3.1 Other current liabilities — 7.3 94.3 48.7 — 150.3 Total current liabilities — 7.3 269.4 144.0 — 420.7 Long-term debt — 1,119.1 69.7 0.5 — 1,189.3 Note payable to (receivable from) affiliates, net 87.5 1,075.6 (1,220.8) 57.7 — — Pension and postretirement benefit obligations — — 113.1 49.0 — 162.1 Deferred income taxes — — 91.2 21.4 — 112.6 Other liabilities 0.1 — 99.8 58.8 — 158.7 Total liabilities 87.6 2,202.0 (577.6) 331.4 — 2,043.4 Total stockholders' equity 1,645.7 1,733.3 3,706.0 784.5 (6,223.8) 1,645.7 Total liabilities and stockholders' equity $ 1,733.3 $ 3,935.3 $ 3,128.4 $ 1,115.9 $ (6,223.8) $ 3,689.1 Condensed Consolidating Balance Sheets December 31, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Assets Current assets: Cash and cash equivalents $ 0.5 $ 0.2 $ 46.7 $ 208.2 $ — $ 255.6 Receivables, net — — 165.5 109.3 — 274.8 Inventories — — 221.8 108.3 — 330.1 Income tax receivable — — 8.5 1.3 — 9.8 Other current assets — — 18.6 18.8 — 37.4 Total current assets 0.5 0.2 461.1 445.9 — 907.7 Property, plant and equipment, net — — 292.8 142.0 — 434.8 Intangible assets, net — — 403.0 121.6 — 524.6 Goodwill — — 1,050.3 319.8 — 1,370.1 Investment in: Issuer subsidiaries 1,552.6 — — — (1,552.6) — Guarantor subsidiaries — 3,532.2 — — (3,532.2) — Non-guarantor subsidiaries — — 691.8 — (691.8) — Other assets — 0.7 100.7 62.5 — 163.9 Total assets $ 1,553.1 $ 3,533.1 $ 2,999.7 $ 1,091.8 $ (5,776.6) $ 3,401.1 Liabilities and stockholders' equity Current liabilities: Current maturities of debt $ — $ — $ 2.3 $ 0.1 $ — $ 2.4 Trade payables — — 72.2 57.2 — 129.4 Compensation and benefits — — 36.6 20.4 — 57.0 Current portion of pension and postretirement benefit obligations — — 1.7 1.4 — 3.1 Other current liabilities — 1.2 77.8 46.6 — 125.6 Total current liabilities — 1.2 190.6 125.7 — 317.5 Long-term debt — 1,117.8 70.7 0.7 — 1,189.2 Note payable to (receivable from), net 113.1 861.5 (1,111.6) 137.0 — — Pension and postretirement benefit obligations — — 119.2 52.2 — 171.4 Deferred income taxes — — 96.8 22.6 — 119.4 Other liabilities 0.7 — 101.8 61.8 — 164.3 Total liabilities 113.8 1,980.5 (532.5) 400.0 — 1,961.8 Total stockholders' equity 1,439.3 1,552.6 3,532.2 691.8 (5,776.6) 1,439.3 Total liabilities and stockholders' equity $ 1,553.1 $ 3,533.1 $ 2,999.7 $ 1,091.8 $ (5,776.6) $ 3,401.1
Condensed Consolidating Statement of Operations	Condensed Consolidating Statements of Operations For the Nine Months Ended September 30, 2021 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 1,212.1 $ 596.6 $ (157.1) $ 1,651.6 Cost of sales — — 725.5 420.7 (157.1) 989.1 Gross profit — — 486.6 175.9 — 662.5 Selling, general and administrative expenses — — 275.1 84.0 — 359.1 Restructuring and other similar charges — — 1.4 2.3 — 3.7 Amortization of intangible assets — — 21.6 6.0 — 27.6 Income from operations — — 188.5 83.6 — 272.1 Non-operating income (expense): Interest income (expense), net: To third parties — (29.6) (4.1) — — (33.7) To affiliates 32.5 75.3 (85.2) (22.6) — — Other (expense) income, net — — (1.5) 2.1 — 0.6 Income before income taxes 32.5 45.7 97.7 63.1 — 239.0 Provision for income taxes (0.1) (0.1) (35.6) (19.8) — (55.6) Equity method investment income — — — 0.3 — 0.3 Income before equity in earnings of subsidiaries 32.4 45.6 62.1 43.6 — 183.7 Equity in income of subsidiaries 155.1 109.5 45.4 — (310.0) — Net income from continuing operations 187.5 155.1 107.5 43.6 (310.0) 183.7 Income from discontinued operations, net of tax — — 2.0 1.8 — 3.8 Net income 187.5 155.1 109.5 45.4 (310.0) 187.5 Non-controlling interest income — — — 0.2 — 0.2 Net income attributable to Zurn $ 187.5 $ 155.1 $ 109.5 $ 45.2 $ (310.0) $ 187.3 Comprehensive income $ 187.5 $ 152.8 $ 109.9 $ 40.5 $ (310.0) $ 180.7 Condensed Consolidating Statements of Operations For the Three Months Ended September 30, 2021 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 410.2 $ 201.2 $ (54.2) $ 557.2 Cost of sales — — 245.5 147.1 (54.2) 338.4 Gross profit — — 164.7 54.1 — 218.8 Selling, general and administrative expenses — — 89.3 28.5 — 117.8 Restructuring and other similar charges — — 0.9 1.1 — 2.0 Amortization of intangible assets — — 7.1 2.0 — 9.1 Income from operations — — 67.4 22.5 — 89.9 Non-operating income (expense): Interest income (expense), net: To third parties — (9.9) (1.1) — — (11.0) To affiliates 10.9 64.7 (55.6) (20.0) — — Other (expense) income, net — — (0.4) (0.3) — (0.7) Income before income taxes 10.9 54.8 10.3 2.2 — 78.2 Provision for income taxes (0.1) (0.1) (12.1) (5.6) — (17.9) Equity method investment income — — — — — — Income (loss) before equity in earnings of subsidiaries 10.8 54.7 (1.8) (3.4) — 60.3 Equity in income (loss) of subsidiaries 53.3 (1.4) (1.6) — (50.3) — Net income (loss) 64.1 53.3 (3.4) (3.4) (50.3) 60.3 Income from discontinued operations, net of tax — — 2.0 1.8 — 3.8 Net income (loss) 64.1 53.3 (1.4) (1.6) (50.3) 64.1 Non-controlling interest income — — — — — — Net income (loss) attributable to Zurn $ 64.1 $ 53.3 $ (1.4) $ (1.6) $ (50.3) $ 64.1 Comprehensive income (loss) $ 64.1 $ 52.4 $ (2.8) $ (9.6) $ (50.3) $ 53.8 Condensed Consolidating Statements of Operations For the Nine Months Ended September 30, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 1,119.8 $ 487.3 $ (117.4) $ 1,489.7 Cost of sales — — 675.3 345.3 (117.4) 903.2 Gross profit — — 444.5 142.0 — 586.5 Selling, general and administrative expenses — — 247.7 70.4 — 318.1 Restructuring and other similar charges — — 7.6 7.3 — 14.9 Amortization of intangible assets — — 22.1 5.0 — 27.1 Income from operations — — 167.1 59.3 — 226.4 Non-operating income (expense): Interest income (expense), net: To third parties — (35.5) (2.9) 0.1 — (38.3) To affiliates 29.0 27.3 (34.6) (21.7) — — Actuarial loss on pension and postretirement benefit obligations — — (34.9) (0.9) — (35.8) Other expense, net — (0.1) (1.0) (1.5) — (2.6) Income (loss) before income taxes 29.0 (8.3) 93.7 35.3 — 149.7 Provision for income taxes — (0.5) (25.6) (13.6) — (39.7) Equity method investment loss — — — (0.2) — (0.2) Income (loss) before equity in earnings of subsidiaries 29.0 (8.8) 68.1 21.5 — 109.8 Equity in income of subsidiaries 80.8 89.6 21.5 — (191.9) — Net income 109.8 80.8 89.6 21.5 (191.9) 109.8 Non-controlling interest income — — — 0.3 — 0.3 Net income attributable to Zurn $ 109.8 $ 80.8 $ 89.6 $ 21.2 $ (191.9) $ 109.5 Comprehensive income $ 109.8 $ 83.5 $ 88.0 $ 19.6 $ (191.9) $ 109.0 Condensed Consolidating Statements of Operations For the Three Months Ended September 30, 2020 (in millions) Parent Issuers Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ 365.7 $ 172.3 $ (44.4) $ 493.6 Cost of sales — — 224.5 120.4 (44.4) 300.5 Gross profit — — 141.2 51.9 — 193.1 Selling, general and administrative expenses — — 80.9 24.2 — 105.1 Restructuring and other similar charges — — 2.2 4.4 — 6.6 Amortization of intangible assets — — 7.4 1.6 — 9.0 Income from operations — — 50.7 21.7 — 72.4 Non-operating income (expense): Interest income (expense), net: To third parties — (10.0) (1.6) 0.1 — (11.5) To affiliates 9.6 5.4 (14.6) (0.4) — — Other (expense) income, net — (0.1) (0.2) 0.9 — 0.6 Income (loss) before income taxes 9.6 (4.7) 34.3 22.3 — 61.5 Provision for income taxes — — (9.7) (6.4) — (16.1) Equity method investment income — — — — — — Income (loss) before equity in earnings of subsidiaries 9.6 (4.7) 24.6 15.9 — 45.4 Equity in income of subsidiaries 35.8 40.5 15.9 — (92.2) — Net income 45.4 35.8 40.5 15.9 (92.2) 45.4 Non-controlling interest income — — — — — — Net income attributable to Zurn $ 45.4 $ 35.8 $ 40.5 $ 15.9 $ (92.2) $ 45.4 Comprehensive income $ 45.4 $ 37.9 $ 40.6 $ 26.6 $ (92.2) $ 58.3
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2021 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by (used for) operating activities $ 10.9 $ 228.6 $ (2.3) $ 8.6 $ — $ 245.8 Investing activities Expenditures for property, plant and equipment — — (12.7) (8.9) — (21.6) Acquisitions, net of cash acquired — — (3.4) — — (3.4) Proceeds from dispositions of long-lived assets — — 9.5 9.0 — 18.5 Cash (used for) provided by investing activities — — (6.6) 0.1 — (6.5) Financing activities Repayments of debt — — (1.7) — — (1.7) Proceeds from exercise of stock options 23.5 — — — — 23.5 Taxes withheld and paid on employees' share-based payment awards (1.4) — — — — (1.4) Repurchase of common stock (0.9) — — — — (0.9) Payment of common stock dividend (32.6) — — — — (32.6) Cash used for financing activities (11.4) — (1.7) — — (13.1) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — (4.2) — (4.2) (Decrease) increase in cash, cash equivalents and restricted cash (0.5) 228.6 (10.6) 4.5 — 222.0 Cash, cash equivalents and restricted cash at beginning of period 0.5 0.2 46.7 208.2 — 255.6 Cash, cash equivalents and restricted cash at end of period $ — $ 228.8 $ 36.1 $ 212.7 $ — $ 477.6 Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2020 (in millions) Parent Issuer Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Operating activities Cash provided by operating activities $ 107.7 $ 0.1 $ 66.9 $ 63.0 $ — $ 237.7 Investing activities Expenditures for property, plant and equipment — — (21.0) (10.2) — (31.2) Acquisitions, net of cash acquired — — (59.4) — — (59.4) Proceeds from dispositions of long-lived assets — — 1.8 7.2 — 9.0 Cash used for investing activities — — (78.6) (3.0) — (81.6) Financing activities Proceeds from borrowings of long-term debt — 250.0 81.0 — — 331.0 Repayments of debt — (250.0) (81.5) (0.6) — (332.1) Repurchase of common stock (95.7) — — — — (95.7) Payment of common stock dividends (29.0) — — — — (29.0) Proceeds from exercise of stock options 26.4 — — — — 26.4 Taxes withheld and paid on employees' share-based payment awards (9.4) — — — — (9.4) Cash used for financing activities (107.7) — (0.5) (0.6) — (108.8) Effect of exchange rate changes on cash, cash equivalents and restricted cash — — — 2.3 — 2.3 Increase (decrease) in cash, cash equivalents and restricted cash — 0.1 (12.2) 61.7 — 49.6 Cash, cash equivalents and restricted cash at beginning of period — — 117.4 159.6 — 277.0 Cash, cash equivalents and restricted cash at end of period $ — $ 0.1 $ 105.2 $ 221.3 $ — $ 326.6

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Details)	9 Months Ended
	Sep. 30, 2021segment$ / shares	Feb. 15, 2021$ / shares	Dec. 31, 2020$ / shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of business segments | segment	2
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Regal Beloit Corporation
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Common stock, par value (in dollars per share)		$ 0.01

Acquisitions and Divestiture (D

Acquisitions and Divestiture (Details) - USD ($) $ in Millions	Apr. 16, 2021	Dec. 11, 2020	Nov. 24, 2020	Oct. 01, 2020	Jan. 28, 2020	May 10, 2019	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020
Business Acquisition [Line Items]
Goodwill							$ 1,373	$ 1,373	$ 1,370.1
Purchase accounting adjustments								0.3
Purchase price, net of cash acquired								3.4		$ 59.4
Discontinued Operations, Disposed of by Sale
Business Acquisition [Line Items]
Proceeds from sale							4.2
Process & Motion Control
Business Acquisition [Line Items]
Goodwill							$ 1,124.7	1,124.7	1,125.3
Purchase accounting adjustments								0
Purchase price, net of cash acquired			$ 0.3
Process & Motion Control | China Gearbox | Disposed of by Sale
Business Acquisition [Line Items]
Proceeds from sale				$ 5.8
Sale of assets				5
Allocated goodwill				$ 1.8
Gain on sale									$ 0.8
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	$ 2.7
Other intangible assets	1.6
Other net assets	$ 0.2
Hadrian Manufacturing Inc.
Business Acquisition [Line Items]
Payments to acquire business		$ 101.3
Goodwill		43
Other intangible assets		$ 32.4
Percent interest of the stock		100.00%
Proceeds from previous acquisition								0.4
Tax deductible goodwill		$ 37
Fixed assets		17.1
Trade working capital		9.7
Other liabilities		0.9
Purchase accounting adjustments								$ 0.2
Hadrian Manufacturing Inc. | Tradenames
Business Acquisition [Line Items]
Other intangible assets		0.8
Hadrian Manufacturing Inc. | Customer Relationships
Business Acquisition [Line Items]
Other intangible assets		$ 31.6
Process & Motion Control Joint Venture
Business Acquisition [Line Items]
Purchase price, net of cash acquired			$ 0.3								$ 0.3
Just Manufacturing
Business Acquisition [Line Items]
Payments to acquire business					$ 59.4
East Creek Corporation
Business Acquisition [Line Items]
Other intangible assets						$ 40.9
Tax deductible goodwill						27.3
Fixed assets						8.4
Trade working capital						9.1
Other liabilities						1.5
Purchase price, net of cash acquired						24.8
East Creek Corporation | Tradenames
Business Acquisition [Line Items]
Other intangible assets						2.2
East Creek Corporation | Customer Relationships
Business Acquisition [Line Items]
Other intangible assets						$ 38.7

Restructuring and Other Simil_3

Restructuring and Other Similar Charges - Costs to Date by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	$ 2	$ 6.6	$ 3.7	$ 14.9
Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	1.8	5.7	2.9	12.4
Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0.2	0.9	0.8	2.5
Operating Segments | Process & Motion Control
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	1.3	6.7	2.1	13.6
Operating Segments | Process & Motion Control | Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	1.1	5.6	1.3	11.1
Operating Segments | Process & Motion Control | Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0.2	1.1	0.8	2.5
Operating Segments | Water Management
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0.1	0.1	1	1.2
Operating Segments | Water Management | Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0.1	0.1	1	1.1
Operating Segments | Water Management | Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0	0	0	0.1
Corporate
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0.6	(0.2)	0.6	0.1
Corporate | Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	0.6	0	0.6	0.2
Corporate | Contract termination and other associated costs
Restructuring Cost and Reserve [Line Items]
Total restructuring and other similar costs	$ 0	$ (0.2)	$ 0	$ (0.1)

Restructuring and Other Simil_4

Restructuring and Other Similar Charges - Reserve Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning period			$ 6.8
Charges	$ 2	$ 6.6	3.7	$ 14.9
Cash payments			(7.5)
Restructuring accrual, ending period	3		3
Employee termination benefits
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning period			6.1
Charges	1.8	5.7	2.9	12.4
Cash payments			(6.2)
Restructuring accrual, ending period	2.8		2.8
Contract termination and other associated costs
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning period			0.7
Charges	0.2	$ 0.9	0.8	$ 2.5
Cash payments			(1.3)
Restructuring accrual, ending period	$ 0.2		$ 0.2

Restructuring and Other Simil_5

Restructuring and Other Similar Charges - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation	$ 0	$ 200,000	$ 0	$ 1,200,000
Process & Motion Control
Restructuring Cost and Reserve [Line Items]
Gains on disposal of assets	$ 900,000	$ (100,000)	$ 10,100,000	(200,000)
Water Management
Restructuring Cost and Reserve [Line Items]
Gains on disposal of assets				$ 200,000

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)segment
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of business segments | segment		2
Percent of contract billed	100.00%	100.00%
Past due period		30 days
Performance obligations expected to be satisfied	$ 470,800,000	$ 470,800,000
Impairment loss recognized	$ 0	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	69.00%	69.00%
Percentage of remaining performance obligation, expected timing	3 months	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percentage of remaining performance obligation	31.00%	31.00%
Percentage of remaining performance obligation, expected timing

Revenue Recognition - Revenue D

Revenue Recognition - Revenue Disaggregated by Customer Type and Geography (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total	$ 557.2	$ 493.6	$ 1,651.6	$ 1,489.7
Process & Motion Control
Disaggregation of Revenue [Line Items]
Total	327.5	293.9	973	931.9
Process & Motion Control | United States and Canada
Disaggregation of Revenue [Line Items]
Total	201.1	168.6	590.7	569.1
Process & Motion Control | Europe
Disaggregation of Revenue [Line Items]
Total	74.7	75.7	229	223.6
Process & Motion Control | Rest of world
Disaggregation of Revenue [Line Items]
Total	51.7	49.6	153.3	139.2
Process & Motion Control | Original equipment manufacturers/end users
Disaggregation of Revenue [Line Items]
Total	179.5	167.6	537.1	526.8
Process & Motion Control | Maintenance, repair, and operations
Disaggregation of Revenue [Line Items]
Total	148	126.3	435.9	405.1
Water Management
Disaggregation of Revenue [Line Items]
Total	229.7	199.7	678.6	557.8
Water Management | United States and Canada
Disaggregation of Revenue [Line Items]
Total	228.4	194.7	675	546
Water Management | Europe
Disaggregation of Revenue [Line Items]
Total	0	0	0	0
Water Management | Rest of world
Disaggregation of Revenue [Line Items]
Total	1.3	5	3.6	11.8
Water Management | Water safety, quality, flow control and conservation
Disaggregation of Revenue [Line Items]
Total	215	187.2	630.7	521.4
Water Management | Water infrastructure
Disaggregation of Revenue [Line Items]
Total	$ 14.7	$ 12.5	$ 47.9	$ 36.4

Revenue Recognition - Change in

Revenue Recognition - Change in Contract with Customer, Asset and Liability (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Contract assets
Beginning balance	$ 0.1
Additions	0
Deductions	(0.1)
Ending balance	0
Contract liabilities
Beginning balance	4
Additions	2.1
Deductions	(1.5)
Ending balance	$ 4.6

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Jun. 30, 2020
Operating Loss Carryforwards [Line Items]
Income tax provision	$ 17.9	$ 16.1	$ 55.6	$ 39.7
Effective income tax rate	22.90%	26.20%	23.30%	26.50%
Unrecognized tax benefits	$ 18.5		$ 18.5		$ 18.6
Accrued interest and penalties	$ 1.5		1.5		$ 1.6
Net interest and penalties recognized as income tax expense			$ 0.2	$ (0.4)
Additional tax liabilities at conclusion of tax examination						$ 1.5
Foreign Tax Authority | Federal Ministry of Finance, Germany
Operating Loss Carryforwards [Line Items]
Additional tax liabilities at conclusion of tax examination						$ 1.7

Earnings per Share (Details)

Earnings per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	800,000	200,000	1,000,000

Stockholders' Equity - Roll For

Stockholders' Equity - Roll Forward (Details) $ / shares in Units, $ in Millions	Nov. 24, 2020USD ($)jointVenture	Sep. 30, 2021USD ($)subsidiary$ / sharesshares	Jun. 30, 2021USD ($)$ / shares	Mar. 31, 2021USD ($)$ / shares	Sep. 30, 2020USD ($)$ / shares	Jun. 30, 2020USD ($)$ / shares	Mar. 31, 2020USD ($)$ / shares	Sep. 30, 2021USD ($)subsidiaryshares	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		$ 1,587.5	$ 1,492.9	$ 1,439.3	$ 1,353.7	$ 1,313.7	$ 1,368.2	$ 1,439.3	$ 1,368.2
Total comprehensive income (loss)		53.8	78.6	48.3	58.3	42.1	8.6	180.7	109
Stock-based compensation expense		11.3	11.6	14.2	10.1	10.6	8.2
Proceeds from exercise of stock options		4.1	16.6	2.8	0.9	6.3	19.2
Repurchase of common stock				(0.9)	(15)		(80.7)
Taxes withheld and paid on employees' share-based payment awards			(1.4)			(9.4)
Common stock dividends		(11)	(10.8)	(10.8)	(9.6)	(9.6)	(9.8)
Ending balance		$ 1,645.7	$ 1,587.5	$ 1,492.9	$ 1,398.4	$ 1,353.7	$ 1,313.7	$ 1,645.7	1,398.4	$ 1,313.7
Common stock dividends (in dollars per share) | $ / shares		$ 0.09	$ 0.09	$ 0.09	$ 0.08	$ 0.08	$ 0.08
Common stock issued (in shares) | shares		282,402						1,820,879
Number of joint ventures | jointVenture	1
Purchase price, net of cash acquired								$ 3.4	59.4
Number of subsidiaries | subsidiary		1						1
Process & Motion Control Joint Venture
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchase price, net of cash acquired	$ 0.3									0.3
Process & Motion Control
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchase price, net of cash acquired	$ 0.3
Centa China | Process & Motion Control | Process & Motion Control Joint Venture
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Percent interest of the stock	30.00%
Centa China | Centa China | Process & Motion Control
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Non-controlling interest		5.00%						5.00%
Common stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		$ 1.2	$ 1.2	$ 1.2	$ 1.2	$ 1.2	$ 1.2	$ 1.2	1.2
Ending balance		1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2	1.2
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		1,436.7	1,409.9	1,392.9	1,355.8	1,348.3	1,320.9	1,392.9	1,320.9
Stock-based compensation expense		11.3	11.6	14.2	10.1	10.6	8.2
Proceeds from exercise of stock options		4.1	16.6	2.8	0.9	6.3	19.2
Taxes withheld and paid on employees' share-based payment awards			(1.4)			(9.4)
Ending balance		1,452.1	1,436.7	1,409.9	1,366.8	1,355.8	1,348.3	1,452.1	1,366.8	1,348.3
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		216.7	154.3	116	111.9	85.9	147.9	116	147.9
Total comprehensive income (loss)		64.1	73.2	50	45.4	35.6	28.5
Repurchase of common stock				(0.9)	(15)		(80.7)
Common stock dividends		(11)	(10.8)	(10.8)	(9.6)	(9.6)	(9.8)
Ending balance		269.8	216.7	154.3	132.7	111.9	85.9	269.8	132.7	85.9
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		(70.3)	(75.6)	(73.8)	(118.1)	(124.4)	(104.4)	(73.8)	(104.4)
Total comprehensive income (loss)		(10.3)	5.3	(1.8)	12.9	6.3	(20)
Ending balance		(80.6)	(70.3)	(75.6)	(105.2)	(118.1)	(124.4)	(80.6)	(105.2)	(124.4)
Non-controlling interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		3.2	3.1	3	2.9	2.7	2.6	3	2.6
Total comprehensive income (loss)			0.1	0.1		0.2	0.1
Ending balance		$ 3.2	$ 3.2	$ 3.1	$ 2.9	$ 2.9	$ 2.7	$ 3.2	$ 2.9	$ 2.7

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jan. 27, 2020	Mar. 31, 2015
Class of Stock [Line Items]
Repurchased and canceled shares (in shares)	500,050	22,300	3,500,000
Cost of repurchased and canceled shares of common stock	$ 15,000,000	$ 900,000	$ 95,700,000
Average price of repurchased and canceled shares of common stock (in dollars per share)	$ 30.02	$ 39.27	$ 27.62
Common stock
Class of Stock [Line Items]
Common stock repurchase program amount				$ 300,000,000	$ 200,000,000
Remaining amount of repurchase authority		$ 162,800,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Income (Loss) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,439.3
Ending balance	1,645.7
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(73.8)
Other comprehensive loss before reclassifications	(6.6)
Amounts reclassified from accumulated other comprehensive loss	(0.2)
Net current period other comprehensive loss	(6.8)
Ending balance	(80.6)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(46)
Other comprehensive loss before reclassifications	(6.6)
Amounts reclassified from accumulated other comprehensive loss	0
Net current period other comprehensive loss	(6.6)
Ending balance	(52.6)
Pension and Postretirement Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(27.8)
Other comprehensive loss before reclassifications	0
Amounts reclassified from accumulated other comprehensive loss	(0.2)
Net current period other comprehensive loss	(0.2)
Ending balance	$ (28)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Reclassifications out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Pension and other postretirement plans
Other (expense) income, net	$ (0.7)	$ 0.6	$ 0.6	$ (2.6)
Provision for income taxes	17.9	16.1	55.6	39.7
Net income	64.1	45.4	187.5	109.8
Reclassification out of Accumulated Other Comprehensive Income | Pension and other postretirement plans
Pension and other postretirement plans
Provision for income taxes	0	0
Net income	$ 0	(0.1)	(0.2)	(0.3)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service credit
Pension and other postretirement plans
Other (expense) income, net		$ (0.1)	$ (0.2)	$ (0.3)

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Inventory, Net [Abstract]
Finished goods	$ 182.5	$ 164.6
Work in progress	42.4	38.6
Purchased components	89.9	70.6
Raw materials	76.2	53.4
Inventories at First-in, First-Out ("FIFO") cost	391	327.2
Adjustment to state inventories at Last-in, First-Out ("LIFO") cost	(4.6)	2.9
Inventories	$ 386.4	$ 330.1

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Changes in Net Carrying Value (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Net carrying amount, beginning of period	$ 1,370.1
Currency translation adjustments	(0.1)
Acquisition	2.7
Purchase accounting adjustments	0.3
Net carrying amount, end of period	1,373
Process & Motion Control
Goodwill [Roll Forward]
Net carrying amount, beginning of period	1,125.3
Currency translation adjustments	(0.6)
Acquisition	0
Purchase accounting adjustments	0
Net carrying amount, end of period	1,124.7
Water Management
Goodwill [Roll Forward]
Net carrying amount, beginning of period	244.8
Currency translation adjustments	0.5
Acquisition	2.7
Purchase accounting adjustments	0.3
Net carrying amount, end of period	$ 248.3

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Gross Carrying Amount and Accumulated Amortization (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Intangible assets subject to amortization:
Weighted Average Useful Life	13 years	13 years
Accumulated Amortization	$ (659.9)	$ (637.3)
Intangible assets not subject to amortization - tradenames
Gross Carrying Amount	1,158.6	1,161.9
Net Carrying Amount	498.7	524.6
Tradenames
Intangible assets not subject to amortization - tradenames
Carrying Amount	$ 280.9	$ 280.9
Patents
Intangible assets subject to amortization:
Weighted Average Useful Life	10 years	10 years
Gross Carrying Amount	$ 52.1	$ 52
Accumulated Amortization	(42.8)	(42.2)
Net Carrying Amount	$ 9.3	$ 9.8
Customer relationships (including distribution network)
Intangible assets subject to amortization:
Weighted Average Useful Life	14 years	14 years
Gross Carrying Amount	$ 781.7	$ 784.9
Accumulated Amortization	(597.7)	(578)
Net Carrying Amount	$ 184	$ 206.9
Tradenames
Intangible assets subject to amortization:
Weighted Average Useful Life	13 years	13 years
Gross Carrying Amount	$ 43.9	$ 44.1
Accumulated Amortization	(19.4)	(17.1)
Net Carrying Amount	$ 24.5	$ 27

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible asset amortization expense	$ 9.1	$ 9	$ 27.6	$ 27.1
Amortization expense in year ending 2021	36.7		36.7
Amortization expense in fiscal year 2022	21.1		21.1
Amortization expense in fiscal year 2023	18.6		18.6
Amortization expense in fiscal year 2024	18.5		18.5
Amortization expense in fiscal year 2025	17.4		17.4
Amortization expense in fiscal year 2026	$ 16.4		$ 16.4
Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average useful life of intangible assets acquired			10 years

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Contract liabilities	$ 4.6	$ 4
Sales rebates	48.1	35.7
Commissions	8.7	5.9
Restructuring and other similar charges	3	6.8
Product warranty	7.3	8.9
Risk management	12.5	10.5
Legal and environmental	3.3	2.4
Taxes, other than income taxes	9.7	7.7
Income tax payable	16.8	14.5
Interest payable	7.4	1.4
Current portion of operating lease liability	14.6	13.3
Other	14.3	14.5
Other current liabilities	$ 150.3	$ 125.6
Operating lease, liability, current, statement of financial position	Other current liabilities	Other current liabilities

Long-Term Debt - Summary of Deb

Long-Term Debt - Summary of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020	Dec. 07, 2017
Debt Instrument [Line Items]
Total	$ 1,191.8	$ 1,191.6
Less current maturities	2.5	2.4
Long-term debt	1,189.3	1,189.2
Term loan | Credit Facility
Debt Instrument [Line Items]
Total	622.2	621.5
Unamortized debt issuance costs	2.8	3.5
4.875% Senior Notes Due 2025 | Senior Notes
Debt Instrument [Line Items]
Total	$ 496.9	$ 496.3
Interest rate	4.875%	4.875%	4.875%
Unamortized debt issuance costs	$ 3.1	$ 3.7
Finance leases and other subsidiary debt
Debt Instrument [Line Items]
Total	$ 72.7	$ 73.8

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	Feb. 14, 2021	Sep. 30, 2021	May 17, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 07, 2017
Senior Secured Credit Facility | Senior Secured Leverage Ratio (Numerator) | Maximum
Debt Instrument [Line Items]
Covenant terms, company's ratio		6.75
364-Day Senior Bridge Loan Facility | Bridge Loan
Debt Instrument [Line Items]
Aggregate principal amount	$ 486,800,000
Debt term	364 days
Proceeds from borrowings of short-term debt	$ 486,600,000
Credit Facility | Senior Secured Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 725,000,000
Remaining borrowing capacity					$ 625,000,000
Weighted-average effective interest rate		1.83%
Weighted-average interest rate, over time		1.86%
Covenant terms, company's ratio		1.7
Revolving Credit Facility | Senior Secured Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 264,000,000
Period payment		0
Amounts borrowed		0		$ 0
Letters of credit outstanding, amount		$ 8,200,000		$ 3,000,000
Senior Notes | 4.875% Senior Notes Due 2025
Debt Instrument [Line Items]
Interest rate		4.875%		4.875%		4.875%
Aggregate principal amount						$ 500,000,000
Senior Notes | Term Loan Facility
Debt Instrument [Line Items]
Aggregate principal amount	708,000,000
Notes Payable, Other Payables | Accounts Receivable Securitization Program
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 100,000,000	$ 85,700,000
Amounts borrowed				0
Letters of credit outstanding, amount				$ 7,500,000
Line of Credit | Senior Secured Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 200,000,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured on Recurring and Nonrecurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	$ 14.4	$ 11.7
Deferred compensation liabilities	15	11.9
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	3	1
Deferred compensation liabilities	15	11.9
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	11.4	10.7
Deferred compensation liabilities	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation assets	0	0
Deferred compensation liabilities	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair value of long-term debt	$ 1,209.1	$ 1,209.3

Commitments and Contingencies -

Commitments and Contingencies - Warranty Roll Forward (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Movement in Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 8.9	$ 6.3
Acquired obligations	0.3	0
Charged to operations	2.1	3.8
Claims settled	(4)	(1.8)
Balance at end of period	$ 7.3	$ 8.3

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) lawsuit in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)lawsuitcarrierclaimant	Mar. 31, 2013USD ($)	Dec. 31, 2002releasedefendant
Loss Contingencies [Line Items]
Number of carriers, if insolvent, could impact coverage | carrier	1
Invensys Plc
Loss Contingencies [Line Items]
Indemnification resulting from business acquisition, amount (in excess of)	$ 900,000,000
Environmental Issue | Ellsworth Industrial Park Site
Loss Contingencies [Line Items]
Number of releases, or threatened releases, chlorinated solvents (or more) | release			1
Indemnification resulting from business acquisition, percentage of costs paid to date by seller			100.00%
Environmental Issue | Ellsworth Industrial Park Site | Minimum
Loss Contingencies [Line Items]
Number of defendants | defendant			10
Damages from Product Defects | Stearns
Loss Contingencies [Line Items]
Indemnification resulting from business acquisition, percentage of costs paid to date by seller	100.00%
Number of claimants | claimant	300
Damages from Product Defects | Zurn
Loss Contingencies [Line Items]
Claim settlement funding period		7 years
Litigation settlement		$ 20,000,000
Asbestos Issue | Prager
Loss Contingencies [Line Items]
Insurance coverage, percentage of costs paid to date by insurance providers	100.00%
Asbestos Issue | Falk
Loss Contingencies [Line Items]
Indemnification resulting from business acquisition, percentage of costs paid to date by seller	100.00%
Number of claimants | claimant	100
Asbestos Issue | Zurn
Loss Contingencies [Line Items]
Number of claimants | claimant	7,000
Number of lawsuits | lawsuit	6
Time frame of claims expected to be filed	10 years
Insurance for asbestos claims	$ 59,000,000
Estimated claim payments made over specified period	$ 42,000,000
Time frame of estimated claims disbursements	10 years

Retirement Benefits - Schedule

Retirement Benefits - Schedule of Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Pension Benefits:
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0.2	$ 0.2	$ 0.4	$ 0.4
Interest cost	3.7	4.7	11.2	14.7
Expected return on plan assets	(4.9)	(4.7)	(14.7)	(14.8)
Recognition of actuarial gains (losses)	0	0	0	35.9
Amortization:
Net periodic benefit cost	(1)	0.2	(3.1)	36.2
Other Postretirement Benefits:
Defined Benefit Plan Disclosure [Line Items]
Interest cost	0	0.2	0.2	0.5
Recognition of actuarial gains (losses)	0	0	0	(0.1)
Amortization:
Prior service credit	0	(0.1)	(0.2)	(0.3)
Net periodic benefit cost	$ 0	$ 0.1	$ 0	$ 0.1

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Retirement Benefits [Abstract]
Actuarial loss on pension and postretirement benefit obligations	$ 0	$ 0	$ 0	$ 35.8
Contributions by employer			$ 1.9	$ 6.1

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock-based compensation expense	$ 11.3	$ 7.4	$ 38.3	$ 28.9

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options, Restricted Stock Units, and Performance Stock Units (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards, Stock options (in shares) | shares	241,829
Weighted Average Grant-Date Fair Value, Stock options (in dollars per share) | $ / shares	$ 15.39
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares) | shares	261,182
Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	$ 45.15
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares) | shares	258,206
Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	$ 45.10
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares) | shares	102,846
Weighted Average Grant-Date Fair Value (in dollars per share) | $ / shares	$ 52.29

Business Segment Information -

Business Segment Information - Narrative (Details)	9 Months Ended
	Sep. 30, 2021segment
Segment Reporting [Abstract]
Number of business segments	2

Business Segment Information _2

Business Segment Information - Schedule of Segment Reporting Information, By Segment (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Net sales	$ 557.2	$ 493.6		$ 1,651.6	$ 1,489.7
Income from operations	89.9	72.4		272.1	226.4
Non-operating expense:
Interest expense, net	(11)	(11.5)		(33.7)	(38.3)
Actuarial loss on pension and postretirement benefit obligations	0	0		0	(35.8)
Other (expense) income, net	(0.7)	0.6		0.6	(2.6)
Income before income taxes	78.2	61.5		239	149.7
Provision for income taxes	(17.9)	(16.1)		(55.6)	(39.7)
Equity method investment income (loss)	0	0		0.3	(0.2)
Net income from continuing operations	60.3	45.4	$ 45.4	183.7	109.8
Income from discontinued operations, net of tax	3.8	0	$ 0	3.8	0
Net income	64.1	45.4		187.5	109.8
Non-controlling interest income	0	0		0.2	0.3
Net income attributable to Zurn	64.1	45.4		187.3	109.5
Additional Information
Depreciation and amortization	22.8	22.3		69.4	66.3
Capital expenditures	7.6	6.8		21.6	31.2
Process & Motion Control
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Net sales	327.5	293.9		973	931.9
Additional Information
Capital expenditures	5.1	5.2		17.4	27
Water Management
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Net sales	229.7	199.7		678.6	557.8
Additional Information
Capital expenditures	2.5	1.6		4.2	4.2
Operating Segments | Process & Motion Control
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Income from operations	57.3	35.8		179.1	136.8
Additional Information
Depreciation and amortization	14.7	14.8		44.8	44.2
Operating Segments | Water Management
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Income from operations	48.6	48.7		142	130.6
Additional Information
Depreciation and amortization	8	7.4		24.3	21.7
Corporate
Segment Reporting Information, Income (Loss) before Income Taxes [Abstract]
Income from operations	(16)	(12.1)		(49)	(41)
Additional Information
Depreciation and amortization	$ 0.1	$ 0.1		$ 0.3	$ 0.4

Guarantor Subsidiaries - Conden

Guarantor Subsidiaries - Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 477.6			$ 255.6
Receivables, net	333.2			274.8
Inventories	386.4			330.1
Income tax receivable	8.4			9.8
Other current assets	57.1			37.4
Total current assets	1,262.7			907.7
Property, plant and equipment, net	399.5			434.8
Intangible assets, net	498.7			524.6
Goodwill	1,373			1,370.1
Investment in:
Other assets	155.2			163.9
Total assets	3,689.1			3,401.1
Current liabilities:
Current maturities of debt	2.5			2.4
Trade payables	210.3			129.4
Compensation and benefits	54.5			57
Current portion of pension and postretirement benefit obligations	3.1			3.1
Other current liabilities	150.3			125.6
Total current liabilities	420.7			317.5
Long-term debt	1,189.3			1,189.2
Note payable to affiliates, net	0			0
Pension and postretirement benefit obligations	162.1			171.4
Deferred income taxes	112.6			119.4
Other liabilities	158.7			164.3
Total liabilities	2,043.4			1,961.8
Total stockholders' equity	1,645.7	$ 1,587.5	$ 1,492.9	1,439.3	$ 1,398.4	$ 1,353.7	$ 1,313.7	$ 1,368.2
Total liabilities and stockholders' equity	3,689.1			3,401.1
Eliminations
Current assets:
Cash and cash equivalents	0			0
Receivables, net	0			0
Inventories	0			0
Income tax receivable	0			0
Other current assets	0			0
Total current assets	0			0
Property, plant and equipment, net	0			0
Intangible assets, net	0			0
Goodwill	0			0
Investment in:
Other assets	0			0
Total assets	(6,223.8)			(5,776.6)
Current liabilities:
Current maturities of debt	0			0
Trade payables	0			0
Compensation and benefits	0			0
Current portion of pension and postretirement benefit obligations	0			0
Other current liabilities	0			0
Total current liabilities	0			0
Long-term debt	0			0
Note payable to affiliates, net	0			0
Pension and postretirement benefit obligations	0			0
Deferred income taxes	0			0
Other liabilities	0			0
Total liabilities	0			0
Total stockholders' equity	(6,223.8)			(5,776.6)
Total liabilities and stockholders' equity	(6,223.8)			(5,776.6)
Eliminations, Issuer Subsidiaries
Investment in:
Subsidiaries	(1,733.3)			(1,552.6)
Eliminations, Guarantor Subsidiaries
Investment in:
Subsidiaries	(3,706)			(3,532.2)
Eliminations, Non-Guarantor Subsidiaries
Investment in:
Subsidiaries	(784.5)			(691.8)
Parent | Reportable Legal Entities
Current assets:
Cash and cash equivalents	0			0.5
Receivables, net	0			0
Inventories	0			0
Income tax receivable	0			0
Other current assets	0			0
Total current assets	0			0.5
Property, plant and equipment, net	0			0
Intangible assets, net	0			0
Goodwill	0			0
Investment in:
Subsidiaries	1,733.3			1,552.6
Other assets	0			0
Total assets	1,733.3			1,553.1
Current liabilities:
Current maturities of debt	0			0
Trade payables	0			0
Compensation and benefits	0			0
Current portion of pension and postretirement benefit obligations	0			0
Other current liabilities	0			0
Total current liabilities	0			0
Long-term debt	0			0
Note payable to affiliates, net	87.5			113.1
Pension and postretirement benefit obligations	0			0
Deferred income taxes	0			0
Other liabilities	0.1			0.7
Total liabilities	87.6			113.8
Total stockholders' equity	1,645.7			1,439.3
Total liabilities and stockholders' equity	1,733.3			1,553.1
Issuers | Reportable Legal Entities
Current assets:
Cash and cash equivalents	228.8			0.2
Receivables, net	0			0
Inventories	0			0
Income tax receivable	0			0
Other current assets	0			0
Total current assets	228.8			0.2
Property, plant and equipment, net	0			0
Intangible assets, net	0			0
Goodwill	0			0
Investment in:
Subsidiaries	3,706			3,532.2
Other assets	0.5			0.7
Total assets	3,935.3			3,533.1
Current liabilities:
Current maturities of debt	0			0
Trade payables	0			0
Compensation and benefits	0			0
Current portion of pension and postretirement benefit obligations	0			0
Other current liabilities	7.3			1.2
Total current liabilities	7.3			1.2
Long-term debt	1,119.1			1,117.8
Note payable to affiliates, net	1,075.6			861.5
Pension and postretirement benefit obligations	0			0
Deferred income taxes	0			0
Other liabilities	0			0
Total liabilities	2,202			1,980.5
Total stockholders' equity	1,733.3			1,552.6
Total liabilities and stockholders' equity	3,935.3			3,533.1
Guarantor Subsidiaries | Reportable Legal Entities
Current assets:
Cash and cash equivalents	36.1			46.7
Receivables, net	209			165.5
Inventories	261.4			221.8
Income tax receivable	6.8			8.5
Other current assets	33			18.6
Total current assets	546.3			461.1
Property, plant and equipment, net	264.5			292.8
Intangible assets, net	383.5			403
Goodwill	1,053.4			1,050.3
Investment in:
Subsidiaries	784.5			691.8
Other assets	96.2			100.7
Total assets	3,128.4			2,999.7
Current liabilities:
Current maturities of debt	2.4			2.3
Trade payables	139.4			72.2
Compensation and benefits	31.6			36.6
Current portion of pension and postretirement benefit obligations	1.7			1.7
Other current liabilities	94.3			77.8
Total current liabilities	269.4			190.6
Long-term debt	69.7			70.7
Note receivable from affiliates, net	(1,220.8)			(1,111.6)
Pension and postretirement benefit obligations	113.1			119.2
Deferred income taxes	91.2			96.8
Other liabilities	99.8			101.8
Total liabilities	(577.6)			(532.5)
Total stockholders' equity	3,706			3,532.2
Total liabilities and stockholders' equity	3,128.4			2,999.7
Non-Guarantor Subsidiaries | Reportable Legal Entities
Current assets:
Cash and cash equivalents	212.7			208.2
Receivables, net	124.2			109.3
Inventories	125			108.3
Income tax receivable	1.6			1.3
Other current assets	24.1			18.8
Total current assets	487.6			445.9
Property, plant and equipment, net	135			142
Intangible assets, net	115.2			121.6
Goodwill	319.6			319.8
Investment in:
Other assets	58.5			62.5
Total assets	1,115.9			1,091.8
Current liabilities:
Current maturities of debt	0.1			0.1
Trade payables	70.9			57.2
Compensation and benefits	22.9			20.4
Current portion of pension and postretirement benefit obligations	1.4			1.4
Other current liabilities	48.7			46.6
Total current liabilities	144			125.7
Long-term debt	0.5			0.7
Note payable to affiliates, net	57.7			137
Pension and postretirement benefit obligations	49			52.2
Deferred income taxes	21.4			22.6
Other liabilities	58.8			61.8
Total liabilities	331.4			400
Total stockholders' equity	784.5			691.8
Total liabilities and stockholders' equity	$ 1,115.9			$ 1,091.8

Guarantor Subsidiaries - Cond_2

Guarantor Subsidiaries - Condensed Consolidating Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Condensed Income Statements, Captions [Line Items]
Net sales	$ 557.2			$ 493.6			$ 1,651.6	$ 1,489.7
Cost of sales	338.4			300.5			989.1	903.2
Gross profit	218.8			193.1			662.5	586.5
Selling, general and administrative expenses	117.8			105.1			359.1	318.1
Restructuring and other similar charges	2			6.6			3.7	14.9
Amortization of intangible assets	9.1			9			27.6	27.1
Income from operations	89.9			72.4			272.1	226.4
Interest income (expense), net:
To third parties	(11)			(11.5)			(33.7)	(38.3)
To affiliates	0			0			0	0
Actuarial loss on pension and postretirement benefit obligations	0			0			0	(35.8)
Other (expense) income, net	(0.7)			0.6			0.6	(2.6)
Income before income taxes	78.2			61.5			239	149.7
Provision for income taxes	(17.9)			(16.1)			(55.6)	(39.7)
Equity method investment income	0			0			0.3	(0.2)
Income (loss) before equity in earnings of subsidiaries	60.3			45.4			183.7	109.8
Equity in income (loss) of subsidiaries	0			0			0	0
Net income from continuing operations	60.3			45.4	$ 45.4		183.7	109.8
Income from discontinued operations, net of tax	3.8			0	0		3.8	0
Net income	64.1			45.4			187.5	109.8
Non-controlling interest income	0			0			0.2	0.3
Net income attributable to Zurn	64.1			45.4			187.3	109.5
Comprehensive income (loss)	53.8	$ 78.6	$ 48.3	58.3	$ 42.1	$ 8.6	180.7	109
Eliminations
Condensed Income Statements, Captions [Line Items]
Net sales	(54.2)			(44.4)			(157.1)	(117.4)
Cost of sales	(54.2)			(44.4)			(157.1)	(117.4)
Gross profit	0			0			0	0
Selling, general and administrative expenses	0			0			0	0
Restructuring and other similar charges	0			0			0	0
Amortization of intangible assets	0			0			0	0
Income from operations	0			0			0	0
Interest income (expense), net:
To third parties	0			0			0	0
To affiliates	0			0			0	0
Actuarial loss on pension and postretirement benefit obligations								0
Other (expense) income, net	0			0			0	0
Income before income taxes	0			0			0	0
Provision for income taxes	0			0			0	0
Equity method investment income	0			0			0	0
Income (loss) before equity in earnings of subsidiaries	0			0			0	0
Equity in income (loss) of subsidiaries	(50.3)			(92.2)			(310)	(191.9)
Net income from continuing operations	(50.3)						(310)
Income from discontinued operations, net of tax	0						0
Net income	(50.3)			(92.2)			(310)	(191.9)
Non-controlling interest income	0			0			0	0
Net income attributable to Zurn	(50.3)			(92.2)			(310)	(191.9)
Comprehensive income (loss)	(50.3)			(92.2)			(310)	(191.9)
Parent | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	0			0			0	0
Cost of sales	0			0			0	0
Gross profit	0			0			0	0
Selling, general and administrative expenses	0			0			0	0
Restructuring and other similar charges	0			0			0	0
Amortization of intangible assets	0			0			0	0
Income from operations	0			0			0	0
Interest income (expense), net:
To third parties	0			0			0	0
To affiliates	10.9			9.6			32.5	29
Actuarial loss on pension and postretirement benefit obligations								0
Other (expense) income, net	0			0			0	0
Income before income taxes	10.9			9.6			32.5	29
Provision for income taxes	(0.1)			0			(0.1)	0
Equity method investment income	0			0			0	0
Income (loss) before equity in earnings of subsidiaries	10.8			9.6			32.4	29
Equity in income (loss) of subsidiaries	53.3			35.8			155.1	80.8
Net income from continuing operations	64.1						187.5
Income from discontinued operations, net of tax	0						0
Net income	64.1			45.4			187.5	109.8
Non-controlling interest income	0			0			0	0
Net income attributable to Zurn	64.1			45.4			187.5	109.8
Comprehensive income (loss)	64.1			45.4			187.5	109.8
Issuers | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	0			0			0	0
Cost of sales	0			0			0	0
Gross profit	0			0			0	0
Selling, general and administrative expenses	0			0			0	0
Restructuring and other similar charges	0			0			0	0
Amortization of intangible assets	0			0			0	0
Income from operations	0			0			0	0
Interest income (expense), net:
To third parties	(9.9)			(10)			(29.6)	(35.5)
To affiliates	64.7			5.4			75.3	27.3
Actuarial loss on pension and postretirement benefit obligations								0
Other (expense) income, net	0			(0.1)			0	(0.1)
Income before income taxes	54.8			(4.7)			45.7	(8.3)
Provision for income taxes	(0.1)			0			(0.1)	(0.5)
Equity method investment income	0			0			0	0
Income (loss) before equity in earnings of subsidiaries	54.7			(4.7)			45.6	(8.8)
Equity in income (loss) of subsidiaries	(1.4)			40.5			109.5	89.6
Net income from continuing operations	53.3						155.1
Income from discontinued operations, net of tax	0						0
Net income	53.3			35.8			155.1	80.8
Non-controlling interest income	0			0			0	0
Net income attributable to Zurn	53.3			35.8			155.1	80.8
Comprehensive income (loss)	52.4			37.9			152.8	83.5
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	410.2			365.7			1,212.1	1,119.8
Cost of sales	245.5			224.5			725.5	675.3
Gross profit	164.7			141.2			486.6	444.5
Selling, general and administrative expenses	89.3			80.9			275.1	247.7
Restructuring and other similar charges	0.9			2.2			1.4	7.6
Amortization of intangible assets	7.1			7.4			21.6	22.1
Income from operations	67.4			50.7			188.5	167.1
Interest income (expense), net:
To third parties	(1.1)			(1.6)			(4.1)	(2.9)
To affiliates	(55.6)			(14.6)			(85.2)	(34.6)
Actuarial loss on pension and postretirement benefit obligations								(34.9)
Other (expense) income, net	(0.4)			(0.2)			(1.5)	(1)
Income before income taxes	10.3			34.3			97.7	93.7
Provision for income taxes	(12.1)			(9.7)			(35.6)	(25.6)
Equity method investment income	0			0			0	0
Income (loss) before equity in earnings of subsidiaries	(1.8)			24.6			62.1	68.1
Equity in income (loss) of subsidiaries	(1.6)			15.9			45.4	21.5
Net income from continuing operations	(3.4)						107.5
Income from discontinued operations, net of tax	2						2
Net income	(1.4)			40.5			109.5	89.6
Non-controlling interest income	0			0			0	0
Net income attributable to Zurn	(1.4)			40.5			109.5	89.6
Comprehensive income (loss)	(2.8)			40.6			109.9	88
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Income Statements, Captions [Line Items]
Net sales	201.2			172.3			596.6	487.3
Cost of sales	147.1			120.4			420.7	345.3
Gross profit	54.1			51.9			175.9	142
Selling, general and administrative expenses	28.5			24.2			84	70.4
Restructuring and other similar charges	1.1			4.4			2.3	7.3
Amortization of intangible assets	2			1.6			6	5
Income from operations	22.5			21.7			83.6	59.3
Interest income (expense), net:
To third parties	0			0.1			0	0.1
To affiliates	(20)			(0.4)			(22.6)	(21.7)
Actuarial loss on pension and postretirement benefit obligations								(0.9)
Other (expense) income, net	(0.3)			0.9			2.1	(1.5)
Income before income taxes	2.2			22.3			63.1	35.3
Provision for income taxes	(5.6)			(6.4)			(19.8)	(13.6)
Equity method investment income	0			0			0.3	(0.2)
Income (loss) before equity in earnings of subsidiaries	(3.4)			15.9			43.6	21.5
Equity in income (loss) of subsidiaries	0			0			0	0
Net income from continuing operations	(3.4)						43.6
Income from discontinued operations, net of tax	1.8						1.8
Net income	(1.6)			15.9			45.4	21.5
Non-controlling interest income	0			0			0.2	0.3
Net income attributable to Zurn	(1.6)			15.9			45.2	21.2
Comprehensive income (loss)	$ (9.6)			$ 26.6			$ 40.5	$ 19.6

Guarantor Subsidiaries - Cond_3

Guarantor Subsidiaries - Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating activities
Cash provided by operating activities			$ 245.8	$ 237.7
Investing activities
Expenditures for property, plant and equipment	$ (7.6)	$ (6.8)	(21.6)	(31.2)
Acquisitions, net of cash acquired			(3.4)	(59.4)
Proceeds from dispositions of long-lived assets			18.5	9
Cash used for investing activities			(6.5)	(81.6)
Financing activities
Proceeds from borrowings of debt			0	331
Repayments of debt			(1.7)	(332.1)
Proceeds from exercise of stock options			23.5	26.4
Taxes withheld and paid on employees' share-based payment awards			(1.4)	(9.4)
Repurchase of common stock			(0.9)	(95.7)
Payment of common stock dividends			(32.6)	(29)
Cash used for financing activities			(13.1)	(108.8)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(4.2)	2.3
(Decrease) increase in cash, cash equivalents and restricted cash			222	49.6
Cash, cash equivalents and restricted cash at beginning of period			255.6	277
Cash, cash equivalents and restricted cash at end of period	477.6	326.6	477.6	326.6
Eliminations
Operating activities
Cash provided by operating activities			0	0
Investing activities
Expenditures for property, plant and equipment			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions of long-lived assets			0	0
Cash used for investing activities			0	0
Financing activities
Proceeds from borrowings of debt				0
Repayments of debt			0	0
Proceeds from exercise of stock options			0	0
Taxes withheld and paid on employees' share-based payment awards			0	0
Repurchase of common stock			0	0
Payment of common stock dividends			0	0
Cash used for financing activities			0	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash			0	0
(Decrease) increase in cash, cash equivalents and restricted cash			0	0
Cash, cash equivalents and restricted cash at beginning of period			0	0
Cash, cash equivalents and restricted cash at end of period	0	0	0	0
Parent | Reportable Legal Entities
Operating activities
Cash provided by operating activities			10.9	107.7
Investing activities
Expenditures for property, plant and equipment			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions of long-lived assets			0	0
Cash used for investing activities			0	0
Financing activities
Proceeds from borrowings of debt				0
Repayments of debt			0	0
Proceeds from exercise of stock options			23.5	26.4
Taxes withheld and paid on employees' share-based payment awards			(1.4)	(9.4)
Repurchase of common stock			(0.9)	(95.7)
Payment of common stock dividends			(32.6)	(29)
Cash used for financing activities			(11.4)	(107.7)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			0	0
(Decrease) increase in cash, cash equivalents and restricted cash			(0.5)	0
Cash, cash equivalents and restricted cash at beginning of period			0.5	0
Cash, cash equivalents and restricted cash at end of period	0	0	0	0
Issuer | Reportable Legal Entities
Operating activities
Cash provided by operating activities			228.6	0.1
Investing activities
Expenditures for property, plant and equipment			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions of long-lived assets			0	0
Cash used for investing activities			0	0
Financing activities
Proceeds from borrowings of debt				250
Repayments of debt			0	(250)
Proceeds from exercise of stock options			0	0
Taxes withheld and paid on employees' share-based payment awards			0	0
Repurchase of common stock			0	0
Payment of common stock dividends			0	0
Cash used for financing activities			0	0
Effect of exchange rate changes on cash, cash equivalents and restricted cash			0	0
(Decrease) increase in cash, cash equivalents and restricted cash			228.6	0.1
Cash, cash equivalents and restricted cash at beginning of period			0.2	0
Cash, cash equivalents and restricted cash at end of period	228.8	0.1	228.8	0.1
Guarantor Subsidiaries | Reportable Legal Entities
Operating activities
Cash provided by operating activities			(2.3)	66.9
Investing activities
Expenditures for property, plant and equipment			(12.7)	(21)
Acquisitions, net of cash acquired			(3.4)	(59.4)
Proceeds from dispositions of long-lived assets			9.5	1.8
Cash used for investing activities			(6.6)	(78.6)
Financing activities
Proceeds from borrowings of debt				81
Repayments of debt			(1.7)	(81.5)
Proceeds from exercise of stock options			0	0
Taxes withheld and paid on employees' share-based payment awards			0	0
Repurchase of common stock			0	0
Payment of common stock dividends			0	0
Cash used for financing activities			(1.7)	(0.5)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			0	0
(Decrease) increase in cash, cash equivalents and restricted cash			(10.6)	(12.2)
Cash, cash equivalents and restricted cash at beginning of period			46.7	117.4
Cash, cash equivalents and restricted cash at end of period	36.1	105.2	36.1	105.2
Non-Guarantor Subsidiaries | Reportable Legal Entities
Operating activities
Cash provided by operating activities			8.6	63
Investing activities
Expenditures for property, plant and equipment			(8.9)	(10.2)
Acquisitions, net of cash acquired			0	0
Proceeds from dispositions of long-lived assets			9	7.2
Cash used for investing activities			0.1	(3)
Financing activities
Proceeds from borrowings of debt				0
Repayments of debt			0	(0.6)
Proceeds from exercise of stock options			0	0
Taxes withheld and paid on employees' share-based payment awards			0	0
Repurchase of common stock			0	0
Payment of common stock dividends			0	0
Cash used for financing activities			0	(0.6)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(4.2)	2.3
(Decrease) increase in cash, cash equivalents and restricted cash			4.5	61.7
Cash, cash equivalents and restricted cash at beginning of period			208.2	159.6
Cash, cash equivalents and restricted cash at end of period	$ 212.7	$ 221.3	$ 212.7	$ 221.3

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Oct. 21, 2021	Oct. 04, 2021	Feb. 14, 2021	Dec. 07, 2017	Dec. 31, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Subsequent Event [Line Items]
Repayment of debt								$ 1,700,000	$ 332,100,000
Actuarial loss on pension and postretirement benefit obligations						$ 0	$ 0	0	$ (35,800,000)
Quarterly dividend declared (in dollars per share)	$ 0.03
Forecast
Subsequent Event [Line Items]
Unfunded pension and postretirement benefit obligations					$ (80,000,000)
Actuarial loss on pension and postretirement benefit obligations					$ (7,000,000)
Senior Secured Credit Facility | Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity						$ 725,000,000		$ 725,000,000
Repayment of debt				$ 625,000,000
Senior Secured Credit Facility | Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity			$ 200,000,000
4.875% Senior Notes Due 2025 | Senior Notes
Subsequent Event [Line Items]
Redeemed amount				$ 500,000,000
Interest rate				4.875%		4.875%		4.875%		4.875%
Redemption price percentage				102.438%
364-Day Senior Bridge Loan Facility | Bridge Loan
Subsequent Event [Line Items]
Proceeds from borrowings of short-term debt			$ 486,600,000
Subsequent Event | Spin-Off Of Process and Motion Control Segment
Subsequent Event [Line Items]
Transaction and refinancing related fees		$ 65,000,000
Subsequent Event | Senior Secured Credit Facility | Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 550,000,000
Quarterly amortization percentage		0.25%
Prepayment penalty percentage		1.00%
Subsequent Event | Senior Secured Credit Facility | Credit Facility | London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Effective current interest rate		2.75%
Floor percentage		0.50%
Applicable margin		2.25%
Subsequent Event | Senior Secured Credit Facility | Line of Credit
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 200,000,000
Subsequent Event | Senior Secured Credit Facility | Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity		$ 200,000,000