0001524472false00015244722025-02-042025-02-04
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 4, 2025
XYLEM INC.
(Exact name of registrant as specified in its charter)
Indiana001-3522945-2080495
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(IRS Employer
Identification No.)
301 Water Street SE20003
WashingtonDC
(Address of principal executive offices)(Zip Code)
(202) 869-9150
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange of which registered
Common Stock, par value $0.01 per shareXYLNew York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
☐Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨


Item 2.02Results of Operations and Financial Condition
On February 4, 2025, Xylem Inc. issued a press release announcing its financial results for the quarter and fiscal year ended December 31, 2024. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated by reference herein.
This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01Financial Statements and Exhibits
(d) Exhibits.
Exhibit
   No.		Description
Press Release issued by Xylem Inc. on February 4, 2025.
104.0The cover page from Xylem Inc.'s Form 8-K, formatted in Inline XBRL (included as Exhibit 101).




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
XYLEM INC.
Date: February 4, 2025By:/s/ William K. Grogan
William K. Grogan
Senior Vice President & Chief Financial Officer
(Authorized Officer of Registrant)




Exhibit 99.1
xylemlogoa18.jpg

Xylem Inc.
301 Water Street SE, Suite 200
Washington, DC 20003
Tel +1.202.869.9150

Contacts:MediaInvestors
Houston Spencer +1 (914) 240-3046Keith Buettner +1 (724) 772-1531
houston.spencer@xylem.comkeith.buettner@xylem.com

Xylem Reports Fourth Quarter and Full Year 2024 Results

Fourth-Quarter Highlights
•Orders of $2.2 billion, up 7% on a reported and organic basis
•Revenue of $2.3 billion, up 7% on a reported and organic basis
•Earnings per share of $1.34, up 22%; $1.18 on an adjusted basis, up 19%

Full-Year Highlights
•Revenue of $8.6 billion, up 16% on a reported basis and 6% organically
•Earnings per share of $3.65, up 31%; $4.27 on an adjusted basis, up 13%
•2025 full-year adjusted earnings per share guidance range of $4.50 to $4.70

WASHINGTON, D.C., Feb. 4, 2025 -- Xylem Inc. (NYSE: XYL), a leading global water solutions company dedicated to solving the world’s most challenging water issues, today reported fourth-quarter and full-year 2024 results. The Company’s total revenue of $2.3 billion surpassed prior guidance, on strong execution and demand. Fourth-quarter earnings also exceeded Xylem’s previous guidance.

“The team delivered a strong fourth quarter to close a record-breaking year for Xylem,” said Matthew Pine, Xylem’s CEO. “We set new benchmarks for full-year revenue, net income and adjusted EBITDA margins, and earnings per share, with the team showing great operating discipline across the portfolio. All segments delivered strong Q4 orders growth, giving us momentum coming into 2025 on resilient underlying demand.”

“In a year of transition and transformation, the team focused on what matters while delivering on the initiatives that have laid the foundation for sustainable growth and value creation. Our 2025 guidance reflects the team’s commitment to our long-term framework as we continue to enable our customers to address the world’s greatest water challenges.”

Net income for the quarter was $326 million, or $1.34 per share. Net income margin increased 190 basis points to 14.5 percent. These results are driven by a non-recurring gain on the remeasurement of our previously held equity interest in Idrica and strong operational performance, partially offset by non-recurring tax benefits in the prior year, a loss on sale of businesses, and increased restructuring and realignment costs. Adjusted net income was $287 million, or $1.18 per share, which excludes the impacts of the gain on remeasurement of previously held equity investment, loss on sale of businesses, purchase accounting intangible amortization, restructuring and realignment costs, and special charges.

Fourth-quarter adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) margin was 21.0 percent, reflecting a year-over-year increase of 140 basis points. Productivity savings, strong


price realization and higher volume drove the margin expansion, exceeding the impact of inflation and strategic investments.

The Board of Directors of Xylem has declared a first-quarter dividend of $0.40 per share, an increase of 11 percent. The dividend is payable on March 19, 2025, to shareholders of record as of February 18, 2025.

Outlook

Xylem forecasts full-year 2025 revenue of approximately $8.6 to $8.7 billion, up approximately 0 to 2 percent on a reported basis and up approximately 3 to 4 percent on an organic basis.

Full-year 2025 adjusted EBITDA margin is expected to be approximately 21.3 to 21.8 percent, an increase of 70 to 120 basis points from Xylem’s 2024 adjusted results. Full-year free cash flow margin is expected to be approximately 9 to 10 percent.

Further 2025 planning assumptions are included in Xylem’s fourth-quarter 2024 earnings materials posted at www.xylem.com/investors. Excluding revenue, Xylem provides guidance only on a non-GAAP basis due to the inherent difficulty in forecasting certain amounts that would be included in GAAP earnings, such as discrete tax items, without unreasonable effort.

Supplemental information on Xylem’s fourth-quarter earnings, as well as definitions of and reconciliations for certain non-GAAP items is posted at www.xylem.com/investors.



###
About Xylem

Xylem (XYL) is a Fortune 500 global water solutions company that empowers customers and communities to build a more water-secure world. Our 23,000 diverse employees delivered revenue of $8.6 billion in 2024, optimizing water and resource management with innovation and expertise. Join us at www.xylem.com and Let’s Solve Water.

Forward-Looking Statements

This press release contains “forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Generally, the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” "contemplate," "predict," “forecast,” “likely,” “believe,” “target,” “will,” “could,” “would,” “should,” "potential," "may" and similar expressions or their negative, may, but are not necessary to, identify forward-looking statements. By their nature, forward-looking statements address uncertain matters and include any statements that: are not historical, such as statements about our strategy, financial plans, outlook, objectives, plans, intentions or goals (including those related to our social, environmental and other sustainability goals); or address possible or future results of operations or financial performance, including statements relating to orders, revenues, operating margins and earnings per share growth.

Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, many of which are beyond our control. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in or implied by our forward-looking statements include, among others, the following: the impact of overall industry and general economic conditions on our markets, customers’ operating conditions and demand; geopolitical events, conditions and volatility, including protectionism and other anti-global sentiment, possible escalation of


the conflicts involving Russia and Ukraine, and the Middle East, and regulatory, economic and other risks associated with our global sales, supply chain and operations; manufacturing and operating cost increases due to macroeconomic conditions, including inflation, energy supply, supply chain shortages, logistics challenges, tight labor markets, prevailing price changes, new or additional tariffs and other factors; demand for our products, disruption, competition or pricing pressures in the markets we serve; cybersecurity incidents or other disruptions of information technology systems on which we rely, or involving our connected products and services; lack of availability or delays in receiving parts and raw materials from our supply chain, including electronic components (in particular, semiconductors); disruptions in operations at our facilities or that of third parties upon which we rely; uncertainty related to the realization of revenue synergies related to our acquisition of Evoqua Water Technologies Corp.; safe and compliant treatment and handling of water, wastewater and hazardous materials; failure to successfully execute large projects, including meeting performance guarantees and customers’ budgets, timelines and safety requirements; our ability to retain and attract leadership and other key talent, as well as competition for overall talent and labor; defects, security, warranty and liability claims, and recalls related to our products; uncertainty around our simplification, productivity, restructuring and realignment actions and related costs, savings and business impacts; our ability to execute strategic investments for growth, including acquisitions and divestitures; availability, regulation or interference with radio spectrum used by certain of our products; volatility in served markets or impacts on our business and operations due to weather conditions, including the effects of climate change; risks related to our sustainability commitments and related voluntary or required disclosures; fluctuations in foreign currency exchange rates; difficulty predicting our financial results; risk of future impairments to goodwill and other intangible assets; changes in our effective tax rates or tax expenses; regulatory and financial market risks related to our pension and other defined benefit plans; failure to comply with, or changes in, laws or regulations, including related to our business conduct, operations, products and services, including anti-corruption, data privacy and security, trade, competition, the environment, climate change and health and safety; legal, governmental or regulatory claims, investigations or proceedings and associated contingent liabilities; matters related to intellectual property infringement or expiration of rights; and other factors set forth under “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 and in subsequent filings we make with the Securities and Exchange Commission (“SEC”).

Forward-looking and other statements in this press release regarding our environmental and other sustainability plans and goals are not an indication that these statements are necessarily material to investors, to our business, operating results, financial condition, outlook, or strategy, to our impacts on sustainability matters or other parties, or are required to be disclosed in our filings with the SEC. In addition, historical, current, and forward-looking social, environmental and sustainability-related statements may be based on: standards for measuring progress that are still developing; internal controls and processes that continue to evolve; third-party data, review, representations, or certifications; information from acquired entities, which may be subject to ongoing review, may not yet or ever be integrated into our reporting processes, and may not be reconcilable with our processes; and assumptions that are subject to change in the future. All forward-looking statements made herein are based on information currently available to us as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.




XYLEM INC. AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS (Unaudited)
(in millions, except per share data)
Year Ended December 31,202420232022
Revenue from products$7,095 $6,291 $4,978 
Revenue from services1,467 1,073 544 
Revenue8,562 7,364 5,522 
Cost of revenue from products4,250 3,817 3,002 
Cost of revenue from services1,100 830 436 
Cost of revenue5,350 4,647 3,438 
Gross profit3,212 2,717 2,084 
Selling, general and administrative expenses1,911 1,757 1,227 
Research and development expenses 230 232 206 
Restructuring and asset impairment charges62 76 29 
Operating income1,009 652 622 
Interest expense44 49 50 
U.K. pension settlement expense— — 140 
Gain on remeasurement of previously held equity interest152 — — 
Other non-operating income, net16 33 7 
(Loss) Gain on sale of businesses(46)(1)1 
Income before taxes1,087 635 440 
Income tax expense197 26 85 
Net income890 609 355 
Earnings per share:
Basic$3.67 $2.81 $1.97 
Diluted$3.65 $2.79 $1.96 
Weighted average number of shares:
Basic242.6217.0180.2
Diluted243.5218.2181.0



XYLEM INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (Unaudited)
(in millions, except per share amounts)
December 31,20242023
ASSETS
Current assets:
Cash and cash equivalents$1,121 $1,019 
Receivables, less allowances for discounts, returns and credit losses of $59 and $56 in 2024 and 2023, respectively
1,668 1,617 
Inventories996 1,018 
Assets held for sale77 — 
Prepaid and other current assets232 230 
Total current assets4,094 3,884 
Property, plant and equipment, net1,152 1,169 
Goodwill7,980 7,587 
Other intangible assets, net2,379 2,529 
Other non-current assets892 943 
Total assets$16,497 $16,112 
LIABILITIES, REDEEMABLE NONCONTROLLING INTEREST, AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$1,006 $968 
Liabilities held for sale21 — 
Accrued and other current liabilities1,271 1,221 
Short-term borrowings and current maturities of long-term debt25 16 
Total current liabilities2,323 2,205 
Long-term debt, net1,991 2,268 
Accrued post-retirement benefit obligations304 344 
Deferred income tax liabilities497 557 
Other non-current accrued liabilities500 562 
Total liabilities5,615 5,936 
Redeemable noncontrolling interest235 — 
Stockholders’ equity:
Common stock — par value $0.01 per share:
Authorized 750.0 shares, issued 259.2 and 257.6 shares in 2024 and 2023, respectively
3 3 
Capital in excess of par value8,687 8,564 
Retained earnings3,140 2,601 
Treasury stock – at cost 16.2 shares and 16.0 shares in 2024 and 2023, respectively
(753)(733)
Accumulated other comprehensive loss(435)(269)
Total stockholders’ equity10,642 10,166 
Non-controlling interest5 10 
Total equity10,647 10,176 
Total liabilities and stockholders’ equity$16,497 $16,112 



XYLEM INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(in millions)
Year Ended December 31,202420232022
Operating Activities
Net income$890 $609 $355 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation258 193 111 
Amortization304 243 125 
Deferred income taxes(36)(79)(64)
Share-based compensation56 60 37 
Restructuring and asset impairment charges62 76 29 
U.K. pension settlement expense— — 140 
Loss (gain) from sale of businesses46 1 (1)
Gain on remeasurement of previously held equity interest(152)— — 
Other, net4 — (4)
Payments for restructuring(32)(30)(11)
Contributions to post-retirement benefit plans(25)(25)(19)
Changes in assets and liabilities (net of acquisitions):
Changes in receivables(107)(87)(192)
Changes in inventories(41)41 (147)
Changes in accounts payable64 22 117 
Changes in accrued liabilities17 (4)57 
Changes in accrued and deferred taxes14 (109)57 
Net changes in other assets and liabilities(59)(74)6 
Net Cash — Operating activities1,263 837 596 
Investing Activities
Capital expenditures(321)(271)(208)
Proceeds from the sale of property, plant and equipment4 1 4 
Acquisitions of businesses, net of cash acquired(193)(476)— 
Proceeds from sale of businesses11 105 1 
Cash received from investments6 1 5 
Cash paid for investments(11)(1)(11)
Cash paid for equity investments(6)(57)(3)
Cash received from interest rate swaps— 38 — 
Cash received from cross-currency swaps29 28 28 
Settlement of currency forward agreement— — (10)
Other, net(1)4 3 
Net Cash — Investing activities(482)(628)(191)
Financing Activities
Short-term debt repaid(268)— — 
Long-term debt issued, net1 278 — 
Long-term debt repaid, net(17)(160)(527)
Repurchase of common stock(20)(25)(52)
Proceeds from exercise of employee stock options67 62 8 
Dividends paid(350)(299)(217)
Other, net(28)(13)(2)
Net Cash — Financing activities(615)(157)(790)
Effect of exchange rate changes on cash(53)23 (20)
Cash classified within assets held for sale(11)— — 
Net change in cash and cash equivalents102 75 (405)
Cash and cash equivalents at beginning of year1,019 944 1,349 
Cash and cash equivalents at end of year$1,121 $1,019 $944 
Supplemental disclosure of cash flow information:
Cash paid during the year for:
Interest$67 $69 $76 
Income taxes (net of refunds received)$219 $211 $91 


Xylem Inc. Non-GAAP Measures
Management reviews key performance indicators including revenue, gross margins, segment operating income and margins, orders growth, working capital and backlog, among others. In addition, we consider certain non-GAAP (or “adjusted”) measures to be useful to management and investors evaluating our operating performance for the periods presented, and to provide a tool for evaluating our ongoing operations, liquidity and management of assets. This information can assist investors in assessing our financial performance and measures our ability to generate capital for deployment among competing strategic alternatives and initiatives, including but not limited to, dividends, acquisitions, share repurchases and debt repayment. Excluding revenue, Xylem provides guidance only on a non-GAAP basis due to the inherent difficulty in forecasting certain amounts that would be included in GAAP earnings, such as discrete tax items, without unreasonable effort. These adjusted metrics are consistent with how management views our business and are used to make financial, operating and planning decisions. These metrics, however, are not measures of financial performance under GAAP and should not be considered a substitute for revenue, operating income, net income, earnings per share (basic and diluted) or net cash from operating activities as determined in accordance with GAAP. We consider the following items to represent the non-GAAP measures we consider to be key performance indicators, as well as the related reconciling items to the most directly comparable measure calculated and presented in accordance with GAAP. The non-GAAP measures may not be comparable to similarly titled measures reported by other companies.
“Organic revenue” and “Organic orders” defined as revenue and orders, respectively, excluding the impact of fluctuations in foreign currency translation and contributions from acquisitions and divestitures. Divestitures include sales or discontinuance of insignificant portions of our business that did not meet the criteria for classification as a discontinued operation. The period-over-period change resulting from foreign currency translation impacts is determined by translating current period and prior period activity using the same currency conversion rate.
“Constant currency” defined as financial results adjusted for foreign currency translation impacts by translating current period and prior period activity using the same currency conversion rate. This approach is used for countries whose functional currency is not the U.S. dollar.
“EBITDA” defined as earnings before interest, taxes, depreciation and amortization expense. “Adjusted EBITDA” and “Adjusted Segment EBITDA” reflect the adjustments to EBITDA and segment EBITDA, respectively, to exclude share-based compensation charges, restructuring and realignment costs, gain or loss from sale of businesses and special charges.
“Adjusted EBITDA Margin” and “Adjusted Segment EBITDA margin” defined as adjusted EBITDA and adjusted segment EBITDA divided by total revenue and segment revenue, respectively.
“Adjusted Operating Income”, “Adjusted Segment Operating Income”, “Adjusted Net Income” and “Adjusted EPS” defined as operating income, segment operating income, net income and earnings per share, adjusted to exclude restructuring and realignment costs, amortization of acquired intangible assets, gain or loss from sale of businesses, special charges and tax-related special items, as applicable.
“Adjusted Operating Margin” and “Adjusted Segment Operating Margin” defined as adjusted operating income and adjusted segment operating income divided by total revenue and segment revenue, respectively.
“Free Cash Flow” defined as net cash from operating activities, as reported in the Statement of Cash Flows, less capital expenditures.
“Free Cash Flow Conversion” defined as Free Cash Flow, or Adjusted Free Cash Flow as applicable; divided by net income, excluding the gain on sale of businesses and other non-recurring, significant non-cash impacts, such as non-cash impairment charges and significant deferred tax items. "Adjusted Free Cash Flow" used in Free Cash Flow Conversion defined as free cash flow adjusted for significant cash items for which the corresponding income statement impact does not occur within the same fiscal year.
"Free Cash Flow Margin" defined as free cash flow, adjusted for significant cash paid or received for non-operational tax, acquisition or divestiture activities; divided by revenue.
“Realignment costs” defined as costs not included in restructuring costs that are incurred as part of actions taken to reposition our business, including items such as professional fees, severance, relocation, travel, facility set-up and other costs.
“Special charges” defined as non-recurring costs incurred by the Company, such those related to acquisitions and integrations, divestitures and non-cash impairment charges.
“Tax-related special items” defined as tax items, such as tax return versus tax provision adjustments, tax exam impacts, tax law change impacts, excess tax benefits/losses and other discrete tax adjustments.


Xylem Inc. Non-GAAP Reconciliation
Reported vs. Organic & Constant Currency Orders
($ Millions)
(As Reported - GAAP)(As Adjusted - Organic)Constant Currency
(A)(B)(C)(D)(E)=B+C+D(F) = E/A(G) = (E - C) / A
OrdersOrders
Change
2024 v. 2023
% Change 2024 v. 2023
Book-to-BillAcquisitions/
Divestitures		FX
Impact
Change
Adj.
2024 v. 2023
% Change
Adj. 2024 v. 2023
20242023
Year Ended December 31
Xylem Inc.8,730 7,501 1,229 16 %102 %(891)11 349 5 %17 %
Water Infrastructure2,727 2,313 414 18 %107 %(243)2 173 7 %18 %
Applied Water1,824 1,770 54 3 %102 %— 3 57 3 %3 %
Measurement and Control Solutions1,672 1,670 2 0 %89 %(5)— (3)— %— %
Water Solutions and Services2,507 1,748 759 43 %107 %(643)6 122 7 %44 %
Quarter Ended December 31
Xylem Inc.2,196 2,044 152 7 %97 %(5)5 152 7 %8 %
Water Infrastructure691 633 58 9 %95 %— 3 61 10 %10 %
Applied Water442 420 22 5 %97 %— — 22 5 %5 %
Measurement and Control Solutions473 442 31 7 %101 %(5)1 27 6 %7 %
Water Solutions and Services590 549 41 7 %97 %— 1 42 8 %8 %
Quarter Ended September 30
Xylem Inc.2,201 2,031 170 8 %105 %— (4)166 8 %8 %
Water Infrastructure700 656 44 7 %112 %— (4)40 6 %6 %
Applied Water437 422 15 4 %98 %— — 15 4 %4 %
Measurement and Control Solutions386 343 43 13 %84 %— (2)41 12 %12 %
Water Solutions and Services678 610 68 11 %118 %— 2 70 11 %11 %
Quarter Ended June 30
Xylem Inc.2,087 1,856 231 12 %96 %(265)11 (23)(1)%13 %
Water Infrastructure690 563 127 23 %109 %(89)5 43 8 %23 %
Applied Water465 445 20 4 %102 %— 3 23 5 %5 %
Measurement and Control Solutions384 470 (86)(18)%80 %— 1 (85)(18)%(18)%
Water Solutions and Services548 378 170 45 %91 %(176)2 (4)(1)%46 %
Quarter Ended March 31
Xylem Inc.2,246 1,570 676 43 %110 %(621)(1)54 3 %43 %
Water Infrastructure646 461 185 40 %113 %(154)(2)29 6 %40 %
Applied Water480 483 (3)(1)%110 %— — (3)(1)%(1)%
Measurement and Control Solutions429 415 14 3 %93 %— — 14 3 %3 %
Water Solutions and Services691 211 480 227 %123 %(467)1 14 7 %228 %


Xylem Inc. Non-GAAP Reconciliation
Reported vs. Organic & Constant Currency Revenue
($ Millions)
(As Reported - GAAP)(As Adjusted - Organic)Constant Currency
(A)(B)(C)(D)(E) = B+C+D(F) = E/A(G) = (E - C) / A
RevenueRevenue
Change
2024 v. 2023
% Change 2024 v. 2023
Acquisitions/
Divestitures		FX
Impact
Change
Adj.
2024 v. 2023
% Change
Adj. 2024 v. 2023
20242023
Year Ended December 31
Xylem Inc.8,562 7,364 1,198 16 %(786)12 424 6 %16 %
Water Infrastructure2,555 2,215 340 15 %(221)4 123 6 %16 %
Applied Water1,793 1,853 (60)(3)%— 2 (58)(3)%(3)%
Measurement and Control Solutions1,871 1,612 259 16 %(4)— 255 16 %16 %
Water Solutions and Services2,343 1,684 659 39 %(561)6 104 6 %39 %
Quarter Ended December 31
Xylem Inc.2,256 2,118 138 7 %(4)7 141 7 %7 %
Water Infrastructure727 674 53 8 %— 4 57 8 %8 %
Applied Water454 457 (3)(1)%— 1 (2)0 %0 %
Measurement and Control Solutions469 437 32 7 %(4)— 28 6 %7 %
Water Solutions and Services606 550 56 10 %— 2 58 11 %11 %
Quarter Ended September 30
Xylem Inc.2,104 2,076 28 1 %— (6)22 1 %1 %
Water Infrastructure623 612 11 2 %— (5)6 1 %1 %
Applied Water447 465 (18)(4)%— (2)(20)(4)%(4)%
Measurement and Control Solutions458 413 45 11 %— (1)44 11 %11 %
Water Solutions and Services576 586 (10)(2)%— 2 (8)(1)%(1)%
Quarter Ended June 30
Xylem Inc.2,169 1,722 447 26 %(302)13 158 9 %27 %
Water Infrastructure631 519 112 22 %(84)6 34 7 %23 %
Applied Water456 478 (22)(5)%— 4 (18)(4)%(4)%
Measurement and Control Solutions482 384 98 26 %— 2 100 26 %26 %
Water Solutions and Services600 341 259 76 %(218)1 42 12 %76 %
Quarter Ended March 31
Xylem Inc.2,033 1,448 585 40 %(480)(2)103 7 %40 %
Water Infrastructure574 410 164 40 %(137)(1)26 6 %40 %
Applied Water436 453 (17)(4)%— (1)(18)(4)%(4)%
Measurement and Control Solutions462 378 84 22 %— (1)83 22 %22 %
Water Solutions and Services561 207 354 171 %(343)1 12 6 %171 %


Xylem Inc. Non-GAAP Reconciliation
Adjusted Operating Income
($ Millions)
Q1Q2Q3Q4YTD
2024202320242023202420232024202320242023
Total Revenue
• Total Xylem2,033 1,448 2,169 1,722 2,104 2,076 2,256 2,118 8,562 7,364 
• Water Infrastructure574 410 631 519 623 612 727 674 2,555 2,215 
• Applied Water436 453 456 478 447 465 454 457 1,793 1,853 
• Measurement and Control Solutions462 378 482 384 458 413 469 437 1,871 1,612 
• Water Solutions and Services561 207 600 341 576 586 606 550 2,343 1,684 
• Corporate/Other— — — — — — — — — — 
Operating Income (Loss)
• Total Xylem209 131 253 119 280 191 267 211 1,009 652 
• Water Infrastructure60 46 78 70 96 84 122 75 356 275 
• Applied Water61 83 71 84 71 73 68 70 271 310 
• Measurement and Control Solutions70 26 79 29 66 35 32 43 247 133 
• Water Solutions and Services50 18 47 26 63 33 59 55 219 132 
• Corporate/Other(32)(42)(22)(90)(16)(34)(14)(32)(84)(198)
Operating Margin
• Total Xylem10.3 %9.0 %11.7 %6.9 %13.3 %9.2 %11.8 %10.0 %11.8 %8.9 %
• Water Infrastructure10.5 %11.2 %12.4 %13.5 %15.4 %13.7 %16.8 %11.1 %13.9 %12.4 %
• Applied Water14.0 %18.3 %15.6 %17.6 %15.9 %15.7 %15.0 %15.3 %15.1 %16.7 %
• Measurement and Control Solutions15.2 %6.9 %16.4 %7.6 %14.4 %8.5 %6.8 %9.8 %13.2 %8.3 %
• Water Solutions and Services8.9 %8.7 %7.8 %7.6 %10.9 %5.6 %9.7 %10.0 %9.3 %7.8 %
• Corporate/OtherN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Special Charges
• Total Xylem16 25 13 67 7 24 21 22 57 138 
• Water Infrastructure2 — 4 12 (2)6 6 10 10 28 
• Applied Water— — — — — — — — — — 
• Measurement and Control Solutions— 2 1 — 2 1 9 1 12 4 
• Water Solutions and Services9 — 3 7 1 9 2 6 15 22 
• Corporate/Other5 23 5 48 6 8 4 5 20 84 
Restructuring & Realignment Costs
• Total Xylem15 11 29 37 11 34 36 24 91 106 
• Water Infrastructure7 3 2 2 6 2 15 11 30 18 
• Applied Water2 3 2 2 2 6 9 3 15 14 
• Measurement and Control Solutions2 5 2 3 (1)6 7 5 10 19 
• Water Solutions and Services3 — 23 8 4 9 5 3 35 20 
• Corporate/Other1 — — 22 — 11 — 2 1 35 
Purchase Accounting Intangible Amortization Adjustment
• Total Xylem54 18 57 36 52 66 53 56 216 176 
• Water Infrastructure19 1 17 8 11 15 12 23 59 47 
• Applied Water— — — — — — — — — — 
• Measurement and Control Solutions14 14 14 15 15 14 15 14 58 57 
• Water Solutions and Services21 3 26 13 26 37 26 19 99 72 
• Corporate/Other— — — — — — — — — — 


Adjusted Operating Income
• Total Xylem294 185 352 259 350 315 377 313 1,373 1,072 
• Water Infrastructure88 50 101 92 111 107 155 119 455 368 
• Applied Water63 86 73 86 73 79 77 73 286 324 
• Measurement and Control Solutions86 47 96 47 82 56 63 63 327 213 
• Water Solutions and Services83 21 99 54 94 88 92 83 368 246 
• Corporate/Other(26)(19)(17)(20)(10)(15)(10)(25)(63)(79)
Adjusted Operating Margin
• Total Xylem14.5 %12.8 %16.2 %15.0 %16.6 %15.2 %16.7 %14.8 %16.0 %14.6 %
• Water Infrastructure15.3 %12.2 %16.0 %17.7 %17.8 %17.5 %21.3 %17.7 %17.8 %16.6 %
• Applied Water14.4 %19.0 %16.0 %18.0 %16.3 %17.0 %17.0 %16.0 %16.0 %17.5 %
• Measurement and Control Solutions18.6 %12.4 %19.9 %12.2 %17.9 %13.6 %13.4 %14.4 %17.5 %13.2 %
• Water Solutions and Services14.8 %10.1 %16.5 %15.8 %16.3 %15.0 %15.2 %15.1 %15.7 %14.6 %
• Corporate/OtherN/A N/A N/A N/A N/A N/A N/A N/A N/A N/A


Xylem Inc. Non-GAAP Reconciliation
Adjusted Diluted EPS
($ Millions, except per share amounts)
Q4 2024Q4 2023
As ReportedAdjustmentsAdjustedAs ReportedAdjustmentsAdjusted
Total Revenue2,256 — 2,256 2,118 — 2,118 
Operating Income267 110  a 377 211 102  a 313 
Operating Margin11.8 % 16.7 %10.0 %14.8 %
Interest Expense(9)— (9)(14)— (14)
Other Non-Operating Income (Expense)5 — 5 14 — 14 
Gain on remeasurement of previously held equity interest152 (152)b— — — — 
Gain/(Loss) from sale of businesses(40)40 c— (1)1 c— 
Income before Taxes375 (2)373 210 103 313 
Provision for Income Taxes(49)(37)d(86)56 (130)d(74)
Net Income326 (39)287 266 (27)239 
Diluted Shares243.8 243.8 242.5 242.5 
Diluted EPS$1.34 $(0.16)$1.18 $1.10 $(0.11)$0.99 

Q4 YTD 2024Q4 YTD 2023
As ReportedAdjustmentsAdjustedAs ReportedAdjustmentsAdjusted
Total Revenue8,562 — 8,562 7,364 — 7,364 
Operating Income1,009 364  a 1,373 652 420  a 1,072 
Operating Margin11.8 %16.0 %8.9 %14.6 %
Interest Expense(44)— (44)(49)— (49)
Other Non-Operating Income (Expense)16 — 16 33 — 33 
Gain on Joint Venture Remeasurement152 (152)b— — — — 
Gain/(Loss) from sale of businesses(46)46 c— (1)1 c— 
Income before Taxes1,087 258 1,345 635 421 1,056 
Provision for Income Taxes(197)(107)d(304)(26)(205)d(231)
Net Income890 151 1,041 609 216 825 
Diluted Shares243.5 243.5 218.2 218.2 
Diluted EPS$3.65 $0.62 $4.27 $2.79 $0.99 $3.78 
a
Quarter-to-date:
Restructuring & realignment costs: 2024 - $36 million and 2023 - $24 million
Special charges: 2024 - $15 million of acquisition & integration costs and $6 million of intangible asset impairment charges; 2023 - $21 million of acquisition, integration and other related costs and $1 million of other special charges
Purchase accounting intangible amortization: 2024 - $53 million and 2023 - $56 million
Year-to-date:
Restructuring & realignment costs: 2024 - $91 million and 2023 - $106 million
Special charges: 2024 - $50 million of acquisition & integration related costs and $7 million of intangible asset impairment charges; 2023 - $134 million of acquisition, integration and other related costs and $4 million of intangible asset impairment charges
Purchase Accounting Intangible amortization: 2024 - $216 million and 2023 - $176 million
bGain on joint venture remeasurement as per income statement
cGain/(Loss) from sale of business as per income statement for all periods presented
d
Quarter-to-date: 2024 - Net tax impact on pre-tax adjustments (note a and c) of $29 million and other tax special items of $8 million; 2023 - Net tax impact on pre-tax adjustments (note a) of $23 million and other tax special items of $107 million                                            
Year-to-date: 2024 - Net tax impact on pre-tax adjustments (note a and c) of $88 million and other tax special items of $19 million; 2023 - Net tax impact on pre-tax adjustments (note a) of $90 million and other tax special items of $115 million                                            



Xylem Inc. Non-GAAP Reconciliation
EBITDA and Adjusted EBITDA by Quarter
($ Millions)
2024
Q1Q2Q3Q4Total
Net Income153 194 217 326 890 
Net Income Margin7.5 %8.9 %10.3 %14.5 %10.4 %
Depreciation61 62 68 67 258 
Amortization73 83 73 75 304 
Interest Expense (Income), net7 6 5 (2)16 
Income Tax Expense43 53 52 49 197 
EBITDA337 398 415 515 1,665 
Share-based Compensation18 13 12 13 56 
Restructuring & Realignment15 29 11 36 91 
Special Charges16 13 7 21 57 
Gain on remeasurement of previously held equity interest— — — (152)(152)
Loss/(Gain) from sale of business5 (1)2 40 46 
Adjusted EBITDA391 452 447 473 1,763 
Revenue 2,033 2,169 2,104 2,256 8,562 
Adjusted EBITDA Margin19.2 %20.8 %21.2 %21.0 %20.6 %
2023
Q1Q2Q3Q4Total
Net Income99 92 152 266 609 
Net Income Margin6.8 %5.3 %7.3 %12.6 %8.3 %
Depreciation28 41 63 61 193 
Amortization32 51 84 76 243 
Interest Expense (Income), net2 5 6 8 21 
Income Tax Expense 27 22 33 (56)26 
EBITDA188 211 338 355 1,092 
Share-based Compensation12 15 18 15 60 
Restructuring & Realignment11 36 33 23 103 
Special Charges25 67 22 22 136 
Loss/(gain) from sale of business— — — 1 1 
Adjusted EBITDA236 329 411 416 1,392 
Revenue 1,448 1,722 2,076 2,118 7,364 
Adjusted EBITDA Margin16.3 %19.1 %19.8 %19.6 %18.9 %

v3.25.0.1
Cover Page
Feb. 04, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 04, 2025
Entity Registrant Name XYLEM INC.
Entity Incorporation, State or Country Code IN
Entity File Number 001-35229
Entity Tax Identification Number 45-2080495
Entity Address, Address Line One 301 Water Street SE
Entity Address, City or Town Washington
Entity Address, State or Province DC
Entity Address, Postal Zip Code 20003
City Area Code 202
Local Phone Number 869-9150
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol XYL
Security Exchange Name NYSE
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001524472
Amendment Flag false
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