0001524472-25-000022 | 10-Q | XBRL Viewer

Equity (Tables)

3 Months Ended

Mar. 31, 2025

The following table shows the changes in stockholders' equity for the three months ended March 31, 2025:


(in millions)	Common Stock		Capital in Excess of Par Value		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock		Non-Controlling Interest		Total
Balance at January 1, 2025	$	3	$	8,687	$	3,140	$	(435)	$	(753)	$	5	$	10,647


Net income	—		—		169		—		—		—		169
Other comprehensive income, net	—		—		—		98		—		—		98
Other activity	—		—		—		—		—		1		1
Dividends declared ($0.40 per share)	—		—		(98)		—		—		—		(98)
Stock incentive plan activity	—		18		—		—		(13)		—		5

Balance at March 31, 2025	$	3	$	8,705	$	3,211	$	(337)	$	(766)	$	6	$	10,822

The following table shows the changes in stockholders' equity for the three months ended March 31, 2024:


	Common Stock		Capital in Excess of Par Value		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock		Non-Controlling Interest		Total
Balance at January 1, 2024	$	3	$	8,564	$	2,601	$	(269)	$	(733)	$	10	$	10,176
Net income	—		—		153		—		—		—		153
Other comprehensive loss, net	—		—		—		(76)		—		—		(76)
Other activity	—		—		—		—		—		(2)		(2)
Dividends declared ($0.36 per share)	—		—		(87)		—		—		—		(87)
Stock incentive plan activity	—		54		—		—		(15)		—		39

Balance at March 31, 2024	$	3	$	8,618	$	2,667	$	(345)	$	(748)	$	8	$	10,203

Credit Facilities and Debt

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Credit Facilities and Debt

Total debt outstanding is summarized as follows:


(in millions)	March 31, 2025		December 31, 2024

3.250% Senior Notes due 2026 (a)	$	500	$	500
1.950% Senior Notes due 2028 (a)	500		500
2.250% Senior Notes due 2031 (a)	500		500
4.375% Senior Notes due 2046 (a)	400		400
Equipment Financing due 2025 to 2032	102		106




Other	27		25
Debt issuance costs and unamortized discount (b)	(14)		(15)

Total debt	2,015		2,016
Less: short-term borrowings and current maturities of long-term debt	41		38
Total long-term debt	$	1,974	$	1,978

(a)The fair value of our Senior Notes was determined using quoted prices in active markets for identical securities, which are considered Level 1 inputs. The fair value of our Senior Notes due 2026 was $491 million and $488 million as of March 31, 2025 and December 31, 2024, respectively. The fair value of our Senior Notes due 2028 was $467 million and $459 million as of March 31, 2025 and December 31, 2024, respectively. The fair value of our Senior Notes due 2031 was $437 million and $427 million as of March 31, 2025 and December 31, 2024, respectively. The fair value of our Senior Notes due 2046 was $332 million and $327 million as of March 31, 2025 and December 31, 2024, respectively.

(b)The debt issuance costs and unamortized discount are recognized as a reduction in the carrying value of the Senior Notes in the Condensed Consolidated Balance Sheets and are being amortized to interest expense in our Condensed Consolidated Income Statements over the expected remaining terms of the Senior Notes.

Senior Notes

On June 26, 2020, we issued 1.950% Senior Notes of $500 million aggregate principal amount due January 2028 (the “Senior Notes due 2028”) and 2.250% Senior Notes of $500 million aggregate principal amount due January 2031 (the “Senior Notes due 2031" and, together with the Senior Notes due 2028, the “Green Bond”).

The Green Bond includes covenants that restrict our ability, and the ability of our restricted subsidiaries, to incur debt secured by liens on certain property above a threshold, to engage in certain sale and leaseback transactions involving certain property above a threshold, and to consolidate or merge, or convey or transfer all or substantially all of our assets. We may redeem the Green Bond at any time, at our option, subject to certain conditions, at specified redemption prices, plus accrued and unpaid interest to the redemption date.

If a change of control triggering event (as defined in the applicable Green Bond indenture) occurs, we will be required to make an offer to purchase the notes at a price equal to 101% of their principal amount plus accrued and unpaid interest to the date of repurchase.

Interest on the Green Bond is payable on January 30 and July 30 of each year. As of March 31, 2025, we are in compliance with all covenants for the Green Bond.

On October 11, 2016, we issued 3.250% Senior Notes of $500 million aggregate principal amount due October 2026 (the “Senior Notes due 2026”) and 4.375% Senior Notes of $400 million aggregate principal amount due October 2046 (the “Senior Notes due 2046” and, together with the Senior Notes due 2026, the “Senior Notes”).

The Senior Notes include covenants that restrict our ability, and the ability of our restricted subsidiaries, to incur debt secured by liens on certain property above a threshold, to engage in certain sale and leaseback transactions involving certain property above a threshold, and to consolidate or merge, or convey or transfer all or substantially all of our assets. We may redeem the Senior Notes, as applicable, in whole or in part, at any time at a redemption price equal to the principal amount of the Senior Notes to be redeemed, plus a make-whole premium. We may also redeem the Senior Notes in certain other circumstances, as set forth in the applicable Senior Notes indenture.

If a change of control triggering event (as defined in the applicable Senior Notes indenture) occurs, we will be required to make an offer to purchase the Senior Notes at a price equal to 101% of their principal amount plus accrued and unpaid interest to the date of repurchase.

Interest on the Senior Notes due 2026 and the Senior Notes due 2046 is payable on May 1 and November 1 of each year. As of March 31, 2025, we are in compliance with all covenants for the Senior Notes.

Credit Facilities

2023 Five-Year Revolving Credit Facility

On March 1, 2023, Xylem entered into a five-year revolving credit facility (the "2023 Credit Facility") with Citibank, N.A., as Administrative Agent, and a syndicate of lenders. The 2023 Credit Facility provides for an aggregate principal amount of up to $1 billion (available in U.S. Dollars and in Euros), with increases of up to $300 million for a maximum aggregate principal amount of $1.3 billion at the request of Xylem and with the consent of the institutions providing such increased commitments.

Interest on all loans under the 2023 Credit Facility is payable either quarterly or at the expiration of any Term SOFR or EURIBOR interest period applicable thereto. Borrowings accrue interest at a rate equal to, at Xylem's election, a base rate or an adjusted Term SOFR or EURIBOR rate plus an applicable margin. The 2023 Credit Facility includes customary provisions for implementation of replacement rates for Term SOFR-based and EURIBOR-based loans. The 2023 Credit Facility also includes a pricing grid that determines the applicable margin based on Xylem's credit rating, with a further adjustment based on Xylem's achievement of certain Environmental, Social and Governance ("ESG") key performance indicators. Xylem will also pay quarterly fees to each lender for such lender's commitment to lend accruing on such commitment at a rate based on Xylem's credit rating, whether such commitment is used or unused, as well as a quarterly letter of credit fee accruing on the letter of credit exposure of such lender during the preceding quarter at a rate based on the credit rating of Xylem with a further adjustment based on Xylem's achievement of certain ESG key performance indicators.

The 2023 Credit Facility requires that Xylem maintain a consolidated total debt to consolidated EBITDA ratio (or maximum leverage ratio), which will be based on the last four fiscal quarters. In accordance with the terms of the agreement to the 2023 Credit Facility, Xylem may not exceed a maximum leverage ratio of 4.00 to 1.00 for a period of four consecutive fiscal quarters beginning with the fiscal quarter during which a material acquisition is consummated and a maximum leverage ratio of 3.50 to 1.00 thereafter for a minimum of four fiscal quarters before another material acquisition is consummated. In addition, the 2023 Credit Facility contains a number of customary covenants, including limitations on the incurrence of secured debt and debt of subsidiaries, liens, sale and lease-back transactions, mergers, consolidations, liquidations, dissolutions and sales of assets. The 2023 Credit Facility also contains customary events of default. Finally, Xylem has the ability to designate subsidiaries that can borrow under the 2023 Credit Facility, subject to certain requirements and conditions set forth in the 2023 Credit Facility. As of March 31, 2025, the 2023 Credit Facility was undrawn, and we are in compliance with all revolver covenants. The 2023 Credit Facility has availability of $1 billion, comprised of the $1 billion aggregate principal as of March 31, 2025.

Equipment Financing

The Company has secured financing agreements that require providing a security interest in specified equipment and, in some cases, the underlying contract and related receivables. As of March 31, 2025, the gross and net amounts of those assets are included on the Consolidated Balance Sheets as follows:


	March 31, 2025
(in millions)	Gross		Net
Property, plant, and equipment, net	$	70	$	56
Receivables, net	3		3
Prepaid and other current assets	5		5
Other non-current assets	141		140
	$	219	$	204

As of March 31, 2025 the future maturities of our debt were as follows


(in millions)	Maturity
2026	$	41
2027	521
2028	519
2029	15
2030	28
Thereafter	905
Total Future Maturities	2,029
Debt issuance costs and unamortized discount (a)	(14)
Total	$	2,015

(a) The debt issuance costs and unamortized discount is recognized as a reduction in the carrying value of the Senior Notes in the Consolidated Balance Sheets and is being amortized to interest expense in our Consolidated Income Statements over the expected remaining terms of the Senior Notes.

Commercial Paper

U.S. Dollar Commercial Paper Program

Our U.S. Dollar commercial paper program generally serves as a means of short-term funding with a $600 million maximum issuing balance and a combined limit of $1 billion inclusive of the 2023 Credit Facility. As of March 31, 2025 and December 31, 2024, none of the Company's $600 million U.S. Dollar commercial paper program was outstanding, respectively.

Euro Commercial Paper Program

On June 3, 2019, Xylem entered into a Euro commercial paper program with ING Bank N.V., as administrative agent, and a syndicate of dealers. The Euro commercial paper program provides for a maximum issuing balance of up to €500 million (approximately $540 million) which may be denominated in a variety of currencies. The maximum issuing balance may be increased in accordance with the Dealer Agreement. As of March 31, 2025 and December 31, 2024, none of the Company's Euro commercial paper program was outstanding. We have the ability to continue borrowing under this program going forward in future periods.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Accrued and Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Accrued and Other Current Liabilities
Compensation and other employee-benefits	$ 284	$ 409
Customer-related liabilities	390	384
Accrued taxes	219	201
Lease liabilities	121	109
Accrued warranty costs	44	43
Other accrued liabilities	109	125
Total accrued and other current liabilities	1,167	1,271
Outstanding balance under supplier finance programs	$ 264	$ 250

Inventories

3 Months Ended

Mar. 31, 2025

Inventory Disclosure [Abstract]

Inventories

The components of total inventories are summarized as follows:


(in millions)	March 31, 2025		December 31, 2024
Finished goods	$	356	$	341
Work in process	111		100
Raw materials	555		555
Total inventories	$	1,022	$	996

Post-retirement Benefit Plans

3 Months Ended

Mar. 31, 2025

Retirement Benefits [Abstract]

Post-retirement Benefit Plans

The components of net periodic benefit cost for our defined benefit pension plans are as follows:


	Three Months Ended
	March 31,
(in millions)	2025		2024
Domestic defined benefit pension plans:
Service cost	$	1	$	1
Interest cost	1		1
Expected return on plan assets	(1)		(1)


Net periodic benefit cost	$	1	$	1
International defined benefit pension plans:
Service cost	$	2	$	2
Interest cost	4		4
Expected return on plan assets	(3)		(3)



Net periodic benefit cost	$	3	$	3
Total net periodic benefit cost	$	4	$	4

The components of net periodic benefit cost, other than the service cost component, are included in the line item "Other non-operating income, net" in the Condensed Consolidated Income Statements.

The total net periodic benefit cost for other post-retirement employee benefit plans was less than $1 million, including net credits recognized into "Other comprehensive income (loss)" of less than $1 million, for both the three months ended March 31, 2025 and 2024, respectively.

We contributed $5 million and $4 million to our defined benefit plans for the three months ended March 31, 2025 and 2024, respectively. Additional contributions ranging between approximately $13 million and $17 million are expected to be made during the remainder of 2025.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Acquisitions and Divestitures (Summary of Intangible Assets Acquired) (Details) - Global Omnium Idrica S.L. $ in Millions	Dec. 10, 2024 USD ($)
Business Acquisition [Line Items]
Useful Life Weighted Average (in years)	10 years
Fair Value (in millions)	$ 165
Customer Relationships
Business Acquisition [Line Items]
Useful Life Weighted Average (in years)	24 years
Fair Value (in millions)	$ 28
Backlog
Business Acquisition [Line Items]
Useful Life Weighted Average (in years)	9 years
Fair Value (in millions)	$ 2
Technology
Business Acquisition [Line Items]
Useful Life Weighted Average (in years)	7 years
Fair Value (in millions)	$ 132
Trade Name
Business Acquisition [Line Items]
Useful Life Weighted Average (in years)	10 years
Fair Value (in millions)	$ 2
Intangible Assets Under Construction
Business Acquisition [Line Items]
Fair Value (in millions)	$ 1

Derivative Financial Instruments (Balance Sheet Location of Derivative Instruments) (Details) - Derivatives designated as hedging instruments - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Prepaid and other current assets
Derivatives, Fair Value
Assets	$ 10	$ 3
Other non-current assets
Derivatives, Fair Value
Assets	27	50
Other non-current accrued liabilities
Derivatives, Fair Value
Liabilities	(90)	(30)
Cash Flow Hedges \| Accrued and other current liabilities
Derivatives, Fair Value
Liabilities	$ (5)	$ (15)

Restructuring Charges (Tables)

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Components of restructuring and asset impairment charges

The following table presents the components of restructuring expense and asset impairment charges:


	Three Months Ended
	March 31,
(in millions)	2025		2024
By component:
Severance and other charges	$	18	$	9

Asset impairment	—		1

Reversal of restructuring accruals	(1)		(1)
Total restructuring costs	$	17	$	9
Asset impairment charges	4		1
Total restructuring and asset impairment charges	$	21	$	10

By segment:
Water Infrastructure	$	13	$	5
Applied Water	3		1
Measurement and Control Solutions	1		—
Water Solutions and Services	4		2
Corporate and other	—		2

Restructuring Accruals

The following table displays a roll-forward of the restructuring accruals, presented on our Condensed Consolidated Balance Sheets within "Accrued and other current liabilities" and "Other non-current accrued liabilities", for the three months ended March 31, 2025 and 2024:


(in millions)	2025		2024
Restructuring accruals - January 1	$	25	$	24
Restructuring costs, net	17		9
Cash payments	(21)		(11)
Asset impairment	—		(1)

Foreign currency and other	1		(1)
Restructuring accruals - March 31	$	22	$	20

By segment:
Water Infrastructure	$	4	$	4
Applied Water	4		1
Measurement and Control Solutions	3		7
Water Solutions and Services	3		2
Regional selling locations (a)	7		5
Corporate and other	1		1

(a)Regional selling locations consist primarily of selling and marketing organizations and related support services that incurred restructuring expense that was allocated to the segments. The liabilities associated with restructuring expense were not allocated to the segments.

Expected Restructuring Costs

The following table presents expected restructuring spend in 2025 and thereafter:


(in millions)	Water Infrastructure		Applied Water		Measurement and Control Solutions		Water Solutions and Services		Corporate		Total
Actions Commenced in 2025:
Total expected costs	$	38	$	21	$	5	$	6	$	6	$	76
Costs incurred during Q1 2025	12		2		1		1		—		16


Total expected costs remaining	$	26	$	19	$	4	$	5	$	6	$	60

Actions Commenced in 2024:
Total expected costs	$	14	$	6	$	1	$	29	$	1	$	51
Costs incurred in 2024	14		5		1		28		1		49
Costs incurred during Q1 2025	—		1		—		—		—		1


Total expected costs remaining	$	—	$	—	$	—	$	1	$	—	$	1

Goodwill and Other Intangible Assets (Goodwill Rollforward) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2025 USD ($)
Changes in the carrying value of goodwill by operating segment
Beginning balance	$ 7,980
Foreign currency and other	81
Ending balance	8,061
Goodwill Adjustment Due To Segment Reallocation, Adjusted Balance
Changes in the carrying value of goodwill by operating segment
Beginning balance	7,980
Water Infrastructure
Changes in the carrying value of goodwill by operating segment
Foreign currency and other	33
Ending balance	2,131
Water Infrastructure \| Goodwill Adjustment Due To Segment Reallocation, Adjusted Balance
Changes in the carrying value of goodwill by operating segment
Beginning balance	2,098
Applied Water
Changes in the carrying value of goodwill by operating segment
Foreign currency and other	6
Ending balance	890
Applied Water \| Goodwill Adjustment Due To Segment Reallocation, Adjusted Balance
Changes in the carrying value of goodwill by operating segment
Beginning balance	884
Measurement and Control Solutions
Changes in the carrying value of goodwill by operating segment
Foreign currency and other	37
Ending balance	2,200
Measurement and Control Solutions \| Goodwill Adjustment Due To Segment Reallocation, Adjusted Balance
Changes in the carrying value of goodwill by operating segment
Beginning balance	2,163
Water Solutions and Services
Changes in the carrying value of goodwill by operating segment
Foreign currency and other	5
Ending balance	2,840
Water Solutions and Services \| Goodwill Adjustment Due To Segment Reallocation, Adjusted Balance
Changes in the carrying value of goodwill by operating segment
Beginning balance	$ 2,835

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

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+ Details

Share-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of the changes in outstanding stock options

The following is a summary of the changes in outstanding stock options for the three months ended March 31, 2025:


	Share units (in thousands)	Weighted Average Exercise Price / Share		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2025	1,182	$	84.76	6.3	$	40
Granted	251	129.67
Exercised	(80)	65.65
Forfeited and expired	(4)	112.88

Outstanding at March 31, 2025	1,349	$	94.15	6.6	$	38
Options exercisable at March 31, 2025	905	$	78.30	5.1	$	38
Vested and expected to vest as of March 31, 2025	1,278	$	92.29	6.4	$	38

Stock option valuation assumptions

The following are weighted-average assumptions for 2025 grants:


Volatility	26.70		%
Risk-free interest rate	4.10		%
Dividend yield	1.23		%
Expected term (in years)	5.5
Weighted-average fair value / share	$	36.95

Summary of restricted stock activity

The following is a summary of restricted stock unit activity for the three months ended March 31, 2025. The fair value of the restricted share unit awards is determined using the closing price of our common stock on date of grant:


	Share units (in thousands)	Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2025	632	$	111.33
Granted	215	129.67
Vested	(276)	105.99
Forfeited	(15)	115.46
Outstanding at March 31, 2025	556	$	120.93

Summary of performance based share grants

The following is a summary of our ROIC and EBITDA grants for the three months ended March 31, 2025. The fair value of the adjusted EBITDA performance share units is equal to the closing share price on the date of the grant:


	Share units (in thousands)	Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2025	77	$	105.02

Adjustment for Performance Condition Achieved (a)	19	86.77
Vested	(44)	86.77
Forfeited	(1)	109.08
Outstanding at March 31, 2025	51	$	113.96

(a) Represents an increase in the number of original ROIC performance share units awarded based on the final market condition achievement at the end of the performance period of such awards.

The following is a summary of our Total Shareholder Return ("TSR") performance share unit grants for the three months ended March 31, 2025:


	Share units (in thousands)	Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2025	155	$	125.42
Granted	53	180.50
Adjustment for Market Condition Achieved (a)	(14)	71.15
Vested	(37)	71.15
Forfeited	(1)	131.07
Outstanding at March 31, 2025	156	$	156.95

(a) Represents a decrease in the number of original TSR performance share units awarded based on the final market condition achievement at the end of the performance period of such awards.

Performance-based shares valuation assumptions

The following are weighted-average assumptions for 2025 grants:




Volatility	25.80	%
Risk-free interest rate	4.01	%

Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option

The following is a summary of our Revenue performance share unit grants for the three months ended March 31, 2025:


	Share units (in thousands)	Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2025	77	$	105.06

Adjustment for Performance Condition Achieved (a)	19	86.77
Vested	(44)	86.77
Forfeited	(1)	109.08
Outstanding at March 31, 2025	51	$	113.96

(a) Represents an increase in the number of original REV performance share units awarded based on the final market condition achievement at the end of the performance period of such awards.

EPS Performance Share Unit Grants

The following is a summary of our EPS performance share unit grants for the three months ended March 31, 2025:


	Share units (in thousands)	Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2025	—	$	—
Granted	53	129.67



Outstanding at March 31, 2025	53	$	129.67

Share-Based Compensation Plans (TSR Performance-Based Shares Fair Value Assumptions) (Details) - Total Shareholder Return Performance-Based Shares - Performance share units	3 Months Ended
	Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	25.80%
Risk-free interest rate	4.01%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Segment Information

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment Information

Our business has four reportable segments: Water Infrastructure, Applied Water, Measurement and Control Solutions and Water Solutions and Services. The Water Infrastructure segment focuses on the transportation and treatment of water, offering a range of products including water, wastewater and storm water pumps, controls and systems; treatment equipment: filtration and separation, disinfection, wastewater solutions for municipal and industrial applications. The Applied Water segment serves many of the primary uses of water and focuses on the residential, commercial and industrial markets. The Applied Water segment's major products include pumps, valves, heat exchangers, controls and dispensing equipment. The Measurement and Control Solutions segment focuses on developing advanced technology solutions that enable intelligent use and conservation of critical water and energy resources as well as analytical instrumentation used in the testing of water. The Measurement and Control Solutions segment's major products include smart metering, networked communications, measurement and control technologies, critical infrastructure technologies, software and services including cloud-based analytics, and remote monitoring and data management. The Water Solutions and Services segment provides tailored services and solutions, in collaboration with customers and backed by life‑cycle services, including on‑demand water, outsourced water, recycle / reuse, specialty dewatering and emergency response service alternatives to improve operational reliability, performance and environmental compliance. Key offerings within this segment also include equipment systems for industrial needs (influent water, boiler feed water, ultrahigh purity, process water, wastewater treatment, and recycle / reuse), full-scale outsourcing of operations and maintenance, and municipal services, including odor and corrosion control services, as well as leak detection, condition assessment and asset management and pressure monitoring solutions.

Additionally, we have Regional selling locations, which consist primarily of selling and marketing organizations and related support services, that offer products and services across our reportable segments. Corporate and other consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs, as well as charges related to certain matters, such as environmental matters, that are managed at a corporate level and are not included in the business segments in evaluating performance or allocating resources.

Disaggregated asset information by segment is not provided to the chief operating decision maker ("CODM") for review, therefore, such information is not presented. The following tables contain financial information provided to the CODM for each reportable segment:


(in millions)	Water Infrastructure		Applied Water		Measurement and Control Solutions		Water Solutions and Services		Total
Balance for quarter ended March 31, 2025
Revenue	$	581	$	435	$	490	$	563	$	2,069
Less:
Adjusted cost of revenue (a)	329		279		302		370
Adjusted operating expenses (a)	145		79		106		115
Other segment items (b)	27		5		26		34
Segment operating income	$	80	$	72	$	56	$	44	$	252
Reconciliation of segment operating income
Corporate and other (loss)									(21)
Interest expense									(8)

Other non-operating income, net									4
Loss on sale of businesses									(10)
Income before income taxes									$	217


(in millions)	Water Infrastructure		Applied Water		Measurement and Control Solutions		Water Solutions and Services		Total
Balance for quarter ended March 31, 2024
Revenue	$	574	$	436	$	462	$	561	$	2,033
Less:
Adjusted cost of revenue (a)	327		288		275		366
Adjusted operating expenses (a)	159		85		101		112
Other segment items (b)	28		2		16		33
Segment operating income	$	60	$	61	$	70	$	50	$	241
Reconciliation of segment operating income
Corporate and other loss									(32)
Interest expense									(14)
Other non-operating income, net									6
Loss on sale of businesses									(5)
Income before income taxes									$	196

(a) Adjusted costs of revenue and adjusted operating expenses represent segment-level information that are regularly provided to the CODM. These balances represent costs of revenue and operating expenses, respectively, adjusted to exclude purchase accounting intangible amortization, restructuring and realignment expenses, and special charges.

(b) Other segment items for each segment represents purchase accounting intangible amortization, restructuring and realignment expenses, and special charges, which are excluded from the above significant expense categories regularly provided to the CODM in line with our adjusted measures as outlined in Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations" in this Annual Report on Form 10-K.

The accounting policies of each segment are the same as those described in the "Summary of Significant Accounting Policies" section of Note 1 in the 2024 Annual Report. The following table contains financial information for each reportable segment:


	Quarter Ended March 31,
(in millions)	2025		2024
Depreciation and Amortization:
Water Infrastructure	$	23	$	31
Applied Water	8		7
Measurement and Control Solutions	39		33
Water Solutions and Services	68		60

Corporate and other	7		3
Total	$	145	$	134
Capital Expenditures:
Water Infrastructure	$	11	$	8
Applied Water	9		5
Measurement and Control Solutions	16		18
Water Solutions and Services	20		33
Regional selling locations (a)	7		6
Corporate and other	8		4
Total	$	71	$	74

(a)Represents capital expenditures incurred by the Regional selling locations not allocated to the segments.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Revenue

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

The following table illustrates the sources of revenue:


	Three Months Ended
	March 31,
(in millions)	2025		2024
Revenue from contracts with customers	$	2,002	$	1,910
Lease Revenue	67		123
Total	$	2,069	$	2,033

The following table reflects revenue from contracts with customers by application.


	Three Months Ended
	March 31,
(in millions)	2025		2024
Water Infrastructure
Transport	$	345	$	337
Treatment	236		237

Applied Water
Building Solutions	247		240
Industrial Water	188		196

Measurement and Control Solutions



Smart Metering and Other	404		377
Analytics	86		85

Water Solutions and Services
Capital and Other	254		203
Services	242		235

Total	$	2,002	$	1,910

The following table reflects revenue from contracts with customers by geographical region.


	Three Months Ended
	March 31,
(in millions)	2025		2024
Water Infrastructure
United States	$	210	$	204
Western Europe	211		211
Emerging Markets (a)	115		114
Other	45		45

Applied Water
United States	239		232
Western Europe	98		99
Emerging Markets (a)	65		73
Other	33		32

Measurement and Control Solutions
United States	322		305
Western Europe	77		82
Emerging Markets (a)	45		44
Other	46		31

Water Solutions and Services
United States	376		335
Western Europe	24		23
Emerging Markets (a)	49		42
Other	47		38

Total	$	2,002	$	1,910

(a)Emerging Markets includes results from the following regions: Eastern Europe, the Middle East and Africa, Latin America and Asia Pacific (excluding Japan, Australia and New Zealand, which are presented in "Other")

Contract Balances

We receive payments from customers based on a billing schedule as established in our contracts. Contract assets relate to costs incurred to perform in advance of scheduled billings. Contract liabilities relate to payments received in advance of performance under the contracts. Changes in contract assets and liabilities are due to our performance under the contract. The table below provides contract assets, contract liabilities, and significant changes in contract assets and liabilities:


(in millions)	Contract Assets (a)		Contract Liabilities
Balance at January 1, 2024	$	263	$	315

Additions, net	99		178
Revenue recognized from opening balance	—		(161)
Billings transferred to accounts receivable	(100)		—
Other	(2)		(10)
Balance at March 31, 2024	$	260	$	322

Balance at January 1, 2025	$	303	$	322

Additions, net	133		116
Revenue recognized from opening balance			(126)
Billings transferred to accounts receivable	(107)		—
Other	—		1
Balance at March 31, 2025	$	329	$	313

(a)Excludes receivable balances, which are disclosed on the Condensed Consolidated Balance Sheets

Performance obligations

Delivery schedules vary from customer to customer based upon their requirements. Typically, large projects require longer lead production cycles and delays can occur from time to time. As of March 31, 2025, the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied for contracts with performance obligations, amount to $1.8 billion. The Company elects to apply the practical expedient to exclude from this disclosure revenue related to performance obligations that are part of a contract whose original expected duration is less than one year.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Inventories
Finished goods	$ 356	$ 341
Work in process	111	100
Raw materials	555	555
Total inventories	$ 1,022	$ 996

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table provides the components of accumulated other comprehensive loss ("AOCL") for the three months ended March 31, 2025:


(in millions)	Foreign Currency Translation		Post-retirement Benefit Plans		Derivative Instruments		Total
Balance at January 1, 2025	$	(368)	$	(53)	$	(14)	$	(435)
Foreign currency translation adjustment	56		—		—		56
Amount of currency translation adjustment relating to divestiture of foreign subsidiaries reclassified into net income	8		—		—		8
Tax on foreign currency translation adjustment	20		—		—		20









Foreign currency translation adjustment for post-retirement benefit plans	—		(1)		—		(1)
Unrealized gain on derivative hedge agreements	—		—		15		15
Income tax benefit on unrealized gain on derivative hedge agreements	—		—		(2)		(2)


Reclassification of unrealized loss on foreign exchange agreements into revenue	—		—		3		3
Reclassification of unrealized gain on foreign exchange agreements into cost of revenue	—		—		(1)		(1)


Balance at March 31, 2025	$	(284)	$	(54)	$	1	$	(337)

The following table provides the components of AOCL for the three months ended March 31, 2024:


(in millions)	Foreign Currency Translation		Post-retirement Benefit Plans		Derivative Instruments		Total
Balance at January 1, 2024	$	(196)	$	(72)	$	(1)	$	(269)

Foreign currency translation adjustment	(65)		—		—		(65)
Tax on foreign currency translation adjustment	(10)		—		—		(10)





Income tax impact on amortization of post-retirement benefit plan items	—		(1)		—		(1)
Foreign currency translation adjustment for post-retirement benefit plans	—		2		—		2
Unrealized loss on derivative hedge agreements	—		—		(3)		(3)



Reclassification of unrealized loss on foreign exchange agreements into cost of revenue	—		—		1		1


Balance at March 31, 2024	$	(271)	$	(71)	$	(3)	$	(345)

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Basic and diluted net earnings per share

The following is a reconciliation of the shares used in calculating basic and diluted net earnings per share:


	Three Months Ended
	March 31,
	2025		2024
Net income (in millions)	$	169	$	153
Shares (in thousands):
Weighted average common shares outstanding	243,084		241,826
Add: Participating securities (a)	21		28
Weighted average common shares outstanding — Basic	243,105		241,854
Plus incremental shares from assumed conversions: (b)
Dilutive effect of stock options	352		727
Dilutive effect of restricted stock units and performance share units	323		440
Weighted average common shares outstanding — Diluted	243,780		243,021
Basic earnings per share	$	0.69	$	0.63
Diluted earnings per share	$	0.69	$	0.63

(a)Restricted stock units containing rights to non-forfeitable dividends that participate in undistributed earnings with common stockholders are considered participating securities for purposes of computing earnings per share.

(b)Incremental shares from stock options, restricted stock units and performance share units are computed by the treasury stock method. The weighted average shares listed below were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented or were otherwise excluded under the treasury stock method. The treasury stock method calculates dilution assuming the exercise of all in-the-money options and vesting of restricted stock units and performance share units, reduced by the repurchase of shares with the proceeds from the assumed exercises and unrecognized compensation expense for outstanding awards. Performance share units will be included in the treasury stock calculation of diluted earnings per share upon achievement of underlying performance or market conditions at the end of the reporting period. See Note 15, "Share-Based Compensation Plans," to the condensed consolidated financial statements for further detail on the performance share units.


	Three Months Ended
	March 31,
(in thousands)	2025	2024
Stock options	866	1,254
Restricted stock units	339	428
Performance share units	233	342

Earnings Per Share (Summary of Antidilutive Securities) (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	866	1,254
Restricted stock units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	339	428
Performance share units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	233	342

Commitments and Contingencies (Summary of Warranties) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Warranties
Warranty accrual – January 1	$ 57	$ 63
Net charges for product warranties in the period	10	9
Settlement of warranty claims	(8)	(9)
Foreign currency and other	1	(1)
Warranty accrual – March 31	$ 60	$ 62

Share-Based Compensation Plans (Summary of Restricted Stock Unit Grants) (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Shares
Vested (in shares) \| shares	(44)
Weighted Average Grant Date Fair Value Per Share
Vested (in usd per share) \| $ / shares	$ 86.77
Restricted stock units
Shares
Outstanding, beginning of period (in shares) \| shares	632
Granted (in shares) \| shares	215
Vested (in shares) \| shares	(276)
Forfeited (in shares) \| shares	(15)
Outstanding, end of period (in shares) \| shares	556
Weighted Average Grant Date Fair Value Per Share
Outstanding, beginning of period (in usd per share) \| $ / shares	$ 111.33
Granted (in usd per share) \| $ / shares	129.67
Vested (in usd per share) \| $ / shares	105.99
Forfeited (in usd per share) \| $ / shares	115.46
Outstanding, end of period (in usd per share) \| $ / shares	$ 120.93

Share-Based Compensation Plans (Textuals) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	May 24, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation	$ 12.0	$ 18.0
Proceeds from exercise of employee stock options	6.0	$ 33.0
Commons tock available for future awards (in shares)			4.7
Total intrinsic value of options exercised	5.0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Unamortized compensation expense	$ 13.0
Weighted average period	2 years 4 months 24 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award
Unamortized compensation expense	$ 50.0
Weighted average period	2 years 2 months 12 days
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award
Unamortized compensation expense	$ 24.0
Weighted average period	2 years 3 months 18 days

Acquisitions and Divestitures (Tables)

3 Months Ended

Mar. 31, 2025

Business Combinations [Abstract]

Business Combination, Separately Recognized Transactions

The acquisition-date fair value of the consideration consisted of the following:


(in millions)	Fair Value of Purchase Consideration
Cash paid	$	154
Fair value of previously held equity interest	193
Fair value of redeemable non-controlling interest	237
Settlement of preexisting relationship	53
Total	$	637

Purchase Price Allocation

The following table summarizes the preliminary acquisition date fair value of net tangible and intangible assets acquired, net of liabilities assumed from Idrica:


(in millions)	Fair Value
Cash and cash equivalents	$	4
Receivables	5
Prepaid and other current assets	6
Goodwill	521
Other intangible assets, net	165
Other non-current assets	15
Accounts payable	(8)
Accrued and other current liabilities	(4)
Short term borrowings and current maturities of long-term debt	(16)
Long term debt	(7)

Deferred income tax liabilities	(41)
Other non-current accrued liabilities	(3)


Total	$	637

Summary of Intangible Assets Acquired

The following table summarizes key information underlying identifiable intangible assets related to the Idrica acquisition:


(in millions)	Useful Life (in years)(a)	Fair Value (in millions)
Customer Relationships	24	$	28
Backlog	9	2
Technology	7	132
Trade Name	10	2
Intangible Assets Under Construction	N/A	1
Total	10	$	165

(a)Useful life approximates weighted average useful life.

•The preliminary estimates of fair value of Idrica’s identifiable intangible assets were determined using a combination of the income and cost approaches. The fair value measurements were primarily based on significant inputs that are not observable in the market and thus, represent a Level 3 measurement of the fair value hierarchy as defined in ASC 820, Fair Value Measurements (“ASC 820”). Intangible assets consisting of the customer relationships, backlog, and trade name were valued using the multi-period excess earnings method (“MEEM”) or the relief from royalty (“RFR”) method, both of which are forms of the income approach. The intangible asset related to Idrica’s developed technology was valued using the replacement cost approach.

•The customer and backlog intangible assets were valued using the MEEM. The MEEM is an approach where the net earnings attributable to the asset being measured are isolated from other “contributory assets” over the intangible asset’s remaining economic life.

•The trade name intangible asset was valued using the RFR method. The RFR method suggests that in lieu of ownership, the acquirer can obtain comparable rights to use the subject asset via a license from a hypothetical third-party owner. The asset’s fair value is the present value of license fees avoided by owning it (i.e., the royalty savings).

•The developed technology intangible asset was valued using the replacement cost approach. The replacement cost approach is a valuation method that relies on estimating the replacement costs of assets based on the principle that an asset would not be purchased for a price higher than the cost to replace it with an asset of comparable utility.

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2025	Apr. 25, 2025
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2025
Document Transition Report	false
Entity File Number	1-35229
Entity Registrant Name	Xylem Inc.
Entity Incorporation, State or Country Code	IN
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
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 Common Stock, Shares Outstanding		243,351,011
Entity Shell Company	false
Entity Central Index Key	0001524472
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31

Share-Based Compensation Plans - Summary of REV Performance Share Unit Grants (Details) - REV Performance Shares shares in Thousands	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Shares
Outstanding, beginning of period (in shares) \| shares	77
Forfeited \| shares	(1)
Outstanding, end of period (in shares) \| shares	51
Weighted Average Grant Date Fair Value Per Share
Outstanding, beginning of period (in usd per share) \| $ / shares	$ 105.06
Forfeited \| $ / shares	109.08
Outstanding, end of period (in usd per share) \| $ / shares	$ 113.96
Performance share unit awarded percent	100.00%
Term of adjusted ROIC performance target	3 years
Term of adjusted EBITDA performance target	3 years
Term of Revenue performance target	3 years

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying value of goodwill by operating segment

Changes in the carrying value of goodwill by reportable segment for the three months ended March 31, 2025 are as follows:


(in millions)	Water Infrastructure		Applied Water		Measurement and Control Solutions		Water Solutions and Services		Total


Balance as of January 1, 2025	2,098		884		2,163		2,835		7,980
Activity in 2025




Foreign currency and other	33		6		37		5		81
Balance as of March 31, 2025	$	2,131	$	890	$	2,200	$	2,840	$	8,061

Other Intangible Assets

Information regarding our other intangible assets is as follows:


	March 31, 2025						December 31, 2024
(in millions)	Carrying Amount		Accumulated Amortization		Net Intangibles		Carrying Amount		Accumulated Amortization		Net Intangibles
Customer and distributor relationships	$	2,160	$	(613)	$	1,547	$	2,151	$	(576)	$	1,575
Proprietary technology and patents	366		(149)		217		360		(138)		222
Trademarks	184		(113)		71		182		(107)		75
Software	613		(388)		225		595		(367)		228
Other	195		(88)		107		194		(79)		115
Indefinite-lived intangibles	165		—		165		164		—		164
Other Intangibles	$	3,683	$	(1,351)	$	2,332	$	3,646	$	(1,267)	$	2,379

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
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-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Recently Issued Accounting Pronouncements	3 Months Ended
Recently Issued Accounting Pronouncements	Mar. 31, 2025
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Pronouncements Not Yet Adopted In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2024-03, "Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses". This ASU requires a footnote disclosure to disaggregate each relevant expense caption on the face of the income statement that includes specific natural expense categories. In addition, the standard requires disclosure of selling expenses on an annual and interim basis. The standard is effective in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The standard is required to be adopted prospectively, but retrospective adoption is permitted. The Company is currently evaluating the method of adoption and the impacts of the guidance on our disclosures in future periods. In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". The ASU is intended to improve income tax disclosure requirements, primarily through additional disclosures about a reporting entity’s effective tax rate reconciliations as well as information on income taxes paid. The standard is effective for fiscal years beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2025, with early adoption permitted. The amendments are required to be applied on a prospective basis, with the option to apply retrospectively to all prior periods presented in the consolidated financial statements. The Company is currently evaluating the method of adoption and the impacts of the guidance on our disclosures in future periods.

Share-Based Compensation Plans (Stock Option Fair Value Assumptions) (Details) - Stock options	3 Months Ended
	Mar. 31, 2025 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	26.70%
Risk-free interest rate	4.10%
Dividend yield	1.23%
Expected term (in years)	5 years 6 months
Weighted-average fair value / share (in usd per share)	$ 36.95

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Changes in product warranty accrual

The table below provides changes in the combined current and non-current product warranty accruals over each period:


(in millions)	2025		2024
Warranty accrual – January 1	$	57	$	63
Net charges for product warranties in the period	10		9

Settlement of warranty claims	(8)		(9)
Foreign currency and other	1		(1)
Warranty accrual – March 31	$	60	$	62

Share-Based Compensation Plans (Summary of Stock Options Grant) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024
Summary of the changes in outstanding stock options
Outstanding, beginning of period (in shares)	1,182
Granted (in shares)	251
Exercised (in shares)	(80)
Outstanding, end of period (in shares)	1,349	1,182
Options exercisable, ending of period (in shares)	905
Vested and expected, end of period (in shares)	1,278
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of period (in usd per share)	$ 84.76
Granted (in usd per share)	129.67
Exercised (in usd per share)	65.65
Outstanding, end of period (in usd per share)	94.15	$ 84.76
Options exercisable, end of period (in usd per share)	78.30
Vested and expected, end of period (in usd per share)	$ 92.29
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Remaining Contractual Term [Roll Forward]
Outstanding, weighted average remaining contractual term	6 years 7 months 6 days	6 years 3 months 18 days
Options exercisable, end of period	5 years 1 month 6 days
Vested and expected to vest, end of period	6 years 4 months 24 days
Aggregate intrinsic value, outstanding	$ 38	$ 40
Aggregate intrinsic value, exercisable	38
Aggregate intrinsic value, vested and expected to vest	$ 38
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period	4
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price	$ 112.88

Restructuring Charges (Accrual Rollfoward) (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2025

Mar. 31, 2024

Restructuring Reserve [Roll Forward]

Restructuring accruals - January 1

$ 25

$ 24

Restructuring costs, net

Cash payments

(21)

(11)

Asset impairment

(1)

Foreign currency and other

(1)

Restructuring accruals - March 31

Regional selling locations

Restructuring Reserve [Roll Forward]

Restructuring accruals - March 31

Corporate and other

Restructuring Reserve [Roll Forward]

Restructuring costs, net

Restructuring accruals - March 31

Water Infrastructure | Operating Segments

Restructuring Reserve [Roll Forward]

Restructuring costs, net

Restructuring accruals - March 31

Applied Water | Operating Segments

Restructuring Reserve [Roll Forward]

Restructuring costs, net

Restructuring accruals - March 31

Measurement and Control Solutions | Operating Segments

Restructuring Reserve [Roll Forward]

Restructuring costs, net

Restructuring accruals - March 31

Water Solutions and Services | Operating Segments

Restructuring Reserve [Roll Forward]

Restructuring costs, net

Restructuring accruals - March 31

^[1]

$ 3

$ 2

[1]	Regional selling locations consist primarily of selling and marketing organizations and related support services that incurred restructuring expense that was allocated to the segments. The liabilities associated with restructuring expense were not allocated to the segments.

Earnings Per Share (Calculations for EPS) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions

3 Months Ended

Mar. 31, 2025

Mar. 31, 2024

Basic and diluted net earnings per share:

Net income attributable to Xylem

$ 169

$ 153

Shares

Weighted average common shares outstanding (in shares)

243,084

241,826

Add: Participating securities (in shares)

^[1]

Weighted average common shares outstanding - Basic (in shares)

243,105

241,854

Plus incremental shares from assumed conversions:

Weighted average common shares outstanding - Diluted (in shares)

243,780

243,021

Basic earnings per share (usd per share)

$ 0.69

$ 0.63

Diluted earnings per share (usd per share)

$ 0.69

$ 0.63

Stock options

Plus incremental shares from assumed conversions:

Dilutive effect of stock options (in shares)

^[2]

352

727

Restricted stock units

Plus incremental shares from assumed conversions:

Dilutive effect of stock options (in shares)

^[2]

323

440

[1]

Restricted stock units containing rights to non-forfeitable dividends that participate in undistributed earnings with common stockholders are considered participating securities for purposes of computing earnings per share.

[2]

Incremental shares from stock options, restricted stock units and performance share units are computed by the treasury stock method. The weighted average shares listed below were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented or were otherwise excluded under the treasury stock method. The treasury stock method calculates dilution assuming the exercise of all in-the-money options and vesting of restricted stock units and performance share units, reduced by the repurchase of shares with the proceeds from the assumed exercises and unrecognized compensation expense for outstanding awards. Performance share units will be included in the treasury stock calculation of diluted earnings per share upon achievement of underlying performance or market conditions at the end of the reporting period. See Note 15, "Share-Based Compensation Plans," to the condensed consolidated financial statements for further detail on the performance share units.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Credit Facilities and Debt (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Gross
Prepaid and other current assets	$ 260	$ 236
Net
Property, plant, and equipment, net	1,157	1,152
Prepaid and other current assets	260	236
Other non-current assets	925	884
Total assets	16,559	$ 16,493
Equipment Financing \| Asset Pledged as Collateral \| Evoqua Acquisition
Gross
Property, plant, and equipment, net	70
Receivables, net	3
Prepaid and other current assets	5
Other non-current assets	141
Gross assets	219
Net
Property, plant, and equipment, net	56
Receivables, net	3
Prepaid and other current assets	5
Other non-current assets	140
Total assets	$ 204

Inventories (Tables)

3 Months Ended

Mar. 31, 2025

Inventory Disclosure [Abstract]

Inventories

The components of total inventories are summarized as follows:


(in millions)	March 31, 2025		December 31, 2024
Finished goods	$	356	$	341
Work in process	111		100
Raw materials	555		555
Total inventories	$	1,022	$	996

Accrued and Other Current Liabilities (Tables)

3 Months Ended

Mar. 31, 2025

Payables and Accruals [Abstract]

Accrued and Other Current Liabilities

The components of total Accrued and other current liabilities are as follows:


(in millions)	March 31, 2025		December 31, 2024
Compensation and other employee-benefits	$	284	$	409
Customer-related liabilities	390		384
Accrued taxes	219		201
Lease liabilities	121		109
Accrued warranty costs	44		43
Other accrued liabilities	109		125
Total accrued and other current liabilities	$	1,167	$	1,271

Supplier Finance Program

The table below provides changes in the confirmed obligations outstanding related to our supplier financing programs over the three months ended March 31, 2025:


(in millions)	2025
Confirmed obligations outstanding – January 1	$	250
Invoices confirmed	259
Confirmed invoices paid	(248)
Foreign currency and other	3
Confirmed obligations outstanding – March 31	$	264

Background and Basis of Presentation (Policies)	3 Months Ended
Background and Basis of Presentation (Policies)	Mar. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The interim condensed consolidated financial statements reflect our financial position and results of operations in conformity with accounting principles generally accepted in the United States of America ("GAAP"). All intercompany transactions between our businesses have been eliminated. The unaudited interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") and, in the opinion of management, reflect all adjustments (which include normal recurring adjustments) considered necessary for a fair statement of the financial position and results of operations for the periods presented. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such SEC rules. We believe that the disclosures made are adequate to make the information presented not misleading. We consistently applied the accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2024 ("2024 Annual Report") in preparing these unaudited condensed consolidated financial statements. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes included in our 2024 Annual Report. Certain prior year amounts have been reclassified to conform to the current year presentation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Estimates are revised as additional information becomes available. Estimates and assumptions are used for, but not limited to, valuation results associated with purchase accounting, post-retirement obligations and assets, revenue recognition, income taxes, valuation of intangible assets, goodwill and indefinite-lived intangible impairment testing and contingent liabilities. Actual results could differ from these estimates. Our quarterly financial periods end on the Saturday closest to the last day of the calendar quarter, except for the fourth quarter which ends on December 31. For ease of presentation, the condensed consolidated financial statements included herein are described as ending on the last day of the calendar quarter.
Recently Adopted Pronouncements	Pronouncements Not Yet Adopted In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2024-03, "Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses". This ASU requires a footnote disclosure to disaggregate each relevant expense caption on the face of the income statement that includes specific natural expense categories. In addition, the standard requires disclosure of selling expenses on an annual and interim basis. The standard is effective in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The standard is required to be adopted prospectively, but retrospective adoption is permitted. The Company is currently evaluating the method of adoption and the impacts of the guidance on our disclosures in future periods. In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". The ASU is intended to improve income tax disclosure requirements, primarily through additional disclosures about a reporting entity’s effective tax rate reconciliations as well as information on income taxes paid. The standard is effective for fiscal years beginning after December 15, 2024, and interim periods within fiscal years beginning after December 15, 2025, with early adoption permitted. The amendments are required to be applied on a prospective basis, with the option to apply retrospectively to all prior periods presented in the consolidated financial statements. The Company is currently evaluating the method of adoption and the impacts of the guidance on our disclosures in future periods.

Share-Based Compensation Plans (Summary of Performance-Based Share Grants) (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Summary of performance share activity
Adjustment for Condition Achieved (in shares) \| shares	19
Vested (in shares) \| shares	(44)
Weighted Average Grant Date Fair Value Per Share
Adjustment for Condition Achieved (in usd per share) \| $ / shares	$ 86.77
Vested (in usd per share) \| $ / shares	$ 86.77
EPS Performance Share Unit
Summary of performance share activity
Outstanding, beginning of period (in shares) \| shares	0
Granted (in shares) \| shares	53
Outstanding, end of period (in shares) \| shares	53
Weighted Average Grant Date Fair Value Per Share
Outstanding, beginning of period (in usd per share) \| $ / shares	$ 0
Granted (in usd per share) \| $ / shares	129.67
Outstanding, end of period (in usd per share) \| $ / shares	$ 129.67
Total Shareholder Return Performance-Based Shares \| Performance share units
Summary of performance share activity
Outstanding, beginning of period (in shares) \| shares	155
Granted (in shares) \| shares	53
Adjustment for Condition Achieved (in shares) \| shares	(14)
Vested (in shares) \| shares	(37)
Forfeited (in shares) \| shares	(1)
Outstanding, end of period (in shares) \| shares	156
Weighted Average Grant Date Fair Value Per Share
Outstanding, beginning of period (in usd per share) \| $ / shares	$ 125.42
Granted (in usd per share) \| $ / shares	180.50
Adjustment for Condition Achieved (in usd per share) \| $ / shares	71.15
Vested (in usd per share) \| $ / shares	71.15
Forfeited (in usd per share) \| $ / shares	131.07
Outstanding, end of period (in usd per share) \| $ / shares	$ 156.95

Post-retirement Benefit Plans (Summary of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Net periodic benefit cost:
Net periodic benefit cost	$ 4	$ 4
Domestic defined benefit pension plans
Net periodic benefit cost:
Service cost	1	1
Interest cost	1	1
Expected return on plan assets	(1)	(1)
Net periodic benefit cost	1	1
International defined benefit pension plans
Net periodic benefit cost:
Service cost	2	2
Interest cost	4	4
Expected return on plan assets	(3)	(3)
Net periodic benefit cost	$ 3	$ 3

Segment and Geographic Data - CODM (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Segment Reporting Information [Line Items]
Revenue	$ 2,069	$ 2,033
Cost of revenue	1,301	1,281
Segment operating income	231	209
Corporate and other (loss)	(21)	(32)
Interest expense	(8)	(14)
Other non-operating income, net	4	6
Loss on sale of businesses	(10)	(5)
Income before income taxes	217	196
Operating Segments
Segment Reporting Information [Line Items]
Segment operating income	252	241
Water Infrastructure \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	581	574
Cost of revenue	329	327
Operating expenses	145	159
Other segment item	27	28
Segment operating income	80	60
Applied Water \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	435	436
Cost of revenue	279	288
Operating expenses	79	85
Other segment item	5	2
Segment operating income	72	61
Measurement and Control Solutions \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	490	462
Cost of revenue	302	275
Operating expenses	106	101
Other segment item	26	16
Segment operating income	56	70
Water Solutions and Services \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	563	561
Cost of revenue	370	366
Operating expenses	115	112
Other segment item	34	33
Segment operating income	$ 44	$ 50

Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Statement of Comprehensive Income [Abstract]
Net income	$ 167	$ 153
Other comprehensive income (loss), before tax:
Foreign currency translation adjustment	56	(65)
Tax on foreign currency translation adjustment	8	0
Net change in derivative hedge agreements:
Unrealized gain (loss)	15	(3)
Amount of loss reclassified into net income	2	1
Net change in post-retirement benefit plans:
Amortization of actuarial (gain) loss into net income	0	0
Foreign currency translation adjustment	(1)	2
Other comprehensive income (loss), before tax	80	(65)
Income tax (benefit) expense related to items of other comprehensive income (loss)	(18)	11
Other comprehensive income (loss), net of tax	98	(76)
Comprehensive income	265	77
Less: comprehensive loss attributable to noncontrolling interests	2	0
Comprehensive income attributable to Xylem	$ 267	$ 77

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 2,002	$ 1,910
Lease Revenue	67	123
Total	2,069	2,033
Water Infrastructure \| United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	210	204
Water Infrastructure \| Western Europe
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	211	211
Water Infrastructure \| Emerging Markets
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	115	114
Water Infrastructure \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	45	45
Water Infrastructure \| Transport
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	345	337
Water Infrastructure \| Treatment
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	236	237
Applied Water \| United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	239	232
Applied Water \| Western Europe
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	98	99
Applied Water \| Emerging Markets
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	65	73
Applied Water \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	33	32
Applied Water \| Building Solutions
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	247	240
Applied Water \| Industrial Water
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	188	196
Measurement and Control Solutions \| United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	322	305
Measurement and Control Solutions \| Western Europe
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	77	82
Measurement and Control Solutions \| Emerging Markets
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	45	44
Measurement and Control Solutions \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	46	31
Measurement and Control Solutions \| Analytics
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	86	85
Measurement and Control Solutions \| Smart Metering and Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	404	377
Water Solutions and Services \| United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	376	335
Water Solutions and Services \| Western Europe
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	24	23
Water Solutions and Services \| Emerging Markets
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	49	42
Water Solutions and Services \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	47	38
Water Solutions and Services \| Capital and Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	254	203
Water Solutions and Services \| Services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 242	$ 235

Restructuring Charges

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring Charges

Restructuring and Asset Impairment Charges

Restructuring

During the three months ended March 31, 2025, we incurred restructuring charges of $17 million. The incurred charges primarily related to actions taken to further streamline our organization through simplification efforts in order to strengthen our competitive positioning and ability to better serve our customers.

During the three months ended March 31, 2024, we incurred restructuring costs of $9 million. We incurred these charges primarily as a result of our acquisition of Evoqua and our efforts to reposition our businesses to optimize our cost structure, improve our operational efficiency and effectiveness, strengthen our competitive positioning and better serve our customers.

The following table presents the components of restructuring expense and asset impairment charges:


	Three Months Ended
	March 31,
(in millions)	2025		2024
By component:
Severance and other charges	$	18	$	9

Asset impairment	—		1

Reversal of restructuring accruals	(1)		(1)
Total restructuring costs	$	17	$	9
Asset impairment charges	4		1
Total restructuring and asset impairment charges	$	21	$	10

By segment:
Water Infrastructure	$	13	$	5
Applied Water	3		1
Measurement and Control Solutions	1		—
Water Solutions and Services	4		2
Corporate and other	—		2


(in millions)	2025		2024
Restructuring accruals - January 1	$	25	$	24
Restructuring costs, net	17		9
Cash payments	(21)		(11)
Asset impairment	—		(1)

Foreign currency and other	1		(1)
Restructuring accruals - March 31	$	22	$	20

By segment:
Water Infrastructure	$	4	$	4
Applied Water	4		1
Measurement and Control Solutions	3		7
Water Solutions and Services	3		2
Regional selling locations (a)	7		5
Corporate and other	1		1

The following table presents expected restructuring spend in 2025 and thereafter:


(in millions)	Water Infrastructure		Applied Water		Measurement and Control Solutions		Water Solutions and Services		Corporate		Total
Actions Commenced in 2025:
Total expected costs	$	38	$	21	$	5	$	6	$	6	$	76
Costs incurred during Q1 2025	12		2		1		1		—		16


Total expected costs remaining	$	26	$	19	$	4	$	5	$	6	$	60

Actions Commenced in 2024:
Total expected costs	$	14	$	6	$	1	$	29	$	1	$	51
Costs incurred in 2024	14		5		1		28		1		49
Costs incurred during Q1 2025	—		1		—		—		—		1


Total expected costs remaining	$	—	$	—	$	—	$	1	$	—	$	1

The actions commenced in 2025 consist primarily of severance charges. The actions are expected to continue through the end of 2026.

The actions commenced in 2024 consist primarily of severance and asset impairment charges. The actions are expected to continue through the end of 2025.

Asset Impairment

During the first quarter of 2025, we recognized a $4 million impairment charge for internally developed software within our Water Solutions and Services and Water Infrastructure segments.

During the first quarter of 2024, we recognized a $1 million impairment charge for internally developed software within Corporate. Refer to Note 9, "Goodwill and Other Intangible Assets," for additional information.

Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Financial information for each reportable segment

The following tables contain financial information provided to the CODM for each reportable segment:


(in millions)	Water Infrastructure		Applied Water		Measurement and Control Solutions		Water Solutions and Services		Total
Balance for quarter ended March 31, 2025
Revenue	$	581	$	435	$	490	$	563	$	2,069
Less:
Adjusted cost of revenue (a)	329		279		302		370
Adjusted operating expenses (a)	145		79		106		115
Other segment items (b)	27		5		26		34
Segment operating income	$	80	$	72	$	56	$	44	$	252
Reconciliation of segment operating income
Corporate and other (loss)									(21)
Interest expense									(8)

Other non-operating income, net									4
Loss on sale of businesses									(10)
Income before income taxes									$	217


(in millions)	Water Infrastructure		Applied Water		Measurement and Control Solutions		Water Solutions and Services		Total
Balance for quarter ended March 31, 2024
Revenue	$	574	$	436	$	462	$	561	$	2,033
Less:
Adjusted cost of revenue (a)	327		288		275		366
Adjusted operating expenses (a)	159		85		101		112
Other segment items (b)	28		2		16		33
Segment operating income	$	60	$	61	$	70	$	50	$	241
Reconciliation of segment operating income
Corporate and other loss									(32)
Interest expense									(14)
Other non-operating income, net									6
Loss on sale of businesses									(5)
Income before income taxes									$	196

The following table contains financial information for each reportable segment:


	Quarter Ended March 31,
(in millions)	2025		2024
Depreciation and Amortization:
Water Infrastructure	$	23	$	31
Applied Water	8		7
Measurement and Control Solutions	39		33
Water Solutions and Services	68		60

Corporate and other	7		3
Total	$	145	$	134
Capital Expenditures:
Water Infrastructure	$	11	$	8
Applied Water	9		5
Measurement and Control Solutions	16		18
Water Solutions and Services	20		33
Regional selling locations (a)	7		6
Corporate and other	8		4
Total	$	71	$	74

(a)Represents capital expenditures incurred by the Regional selling locations not allocated to the segments.

Equity - Summary of Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 10,647	$ 10,176
Net income attributable to Xylem	169	153
Other comprehensive income (loss), net	98	(76)
Other activity	1	(2)
Dividends declared	(98)	(87)
Stock incentive plan activity	5	39
Ending balance	$ 10,822	$ 10,203
Dividends declared (in dollars per share)	$ 0.40	$ 0.36
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 3	$ 3
Ending balance	3	3
Capital in Excess of Par Value
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	8,687	8,564
Stock incentive plan activity	18	54
Ending balance	8,705	8,618
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	3,140	2,601
Net income attributable to Xylem	169	153
Other activity		0
Dividends declared	(98)	(87)
Ending balance	3,211	2,667
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(435)	(269)
Other comprehensive income (loss), net	98	(76)
Ending balance	(337)	(345)
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(753)	(733)
Stock incentive plan activity	(13)	(15)
Ending balance	(766)	(748)
Non-Controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	5	10
Other activity	1	(2)
Ending balance	$ 6	$ 8

Acquisitions and Divestitures (Summary of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024	Dec. 10, 2024
Business Acquisition [Line Items]
Goodwill	$ 8,061	$ 7,980
Global Omnium Idrica S.L.
Business Acquisition [Line Items]
Cash and cash equivalents			$ 4
Receivables			5
Prepaid and other current assets			6
Goodwill			521
Other intangible assets, net			165
Other non-current assets			15
Accounts payable			(8)
Accrued and other current liabilities			(4)
Short term borrowings and current maturities of long-term debt			(16)
Long term debt			(7)
Deferred income tax liabilities			(3)
Other non-current accrued liabilities			(41)
Total			$ 637

Credit Facilities and Long-Term Debt - Maturities of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Debt Disclosure [Abstract]
2026	$ 41
2027	521
2028	519
2029	15
2030	28
Thereafter	905
Total Future Maturities	2,029
Debt issuance costs and unamortized discount	(14)
Total	$ 2,015	$ 2,016

Share-Based Compensation Plans

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation Plans

Share-based compensation expense was $12 million and $18 million during the three months ended March 31, 2025 and 2024, respectively. The unrecognized compensation expense related to our stock options, restricted stock units and performance share units was $13 million, $50 million and $24 million, respectively, at March 31, 2025 and is expected to be recognized over a weighted average period of 2.4, 2.2 and 2.3 years, respectively. The amount of cash received from the exercise of stock options was $6 million and $33 million for the three months ended March 31, 2025 and 2024, respectively.

As of March 31, 2025, there were approximately 4.7 million shares of common stock available for future awards.

Stock Option Grants

The following is a summary of the changes in outstanding stock options for the three months ended March 31, 2025:


	Share units (in thousands)	Weighted Average Exercise Price / Share		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in millions)
Outstanding at January 1, 2025	1,182	$	84.76	6.3	$	40
Granted	251	129.67
Exercised	(80)	65.65
Forfeited and expired	(4)	112.88

Outstanding at March 31, 2025	1,349	$	94.15	6.6	$	38
Options exercisable at March 31, 2025	905	$	78.30	5.1	$	38
Vested and expected to vest as of March 31, 2025	1,278	$	92.29	6.4	$	38

The total intrinsic value of options exercised (which is the amount by which the stock price exceeded the exercise price of the options on the date of exercise) during the three months ended March 31, 2025 was $5 million.

Stock Option Fair Value

The fair value of each option grant was estimated on the date of grant using the binomial lattice pricing model which incorporates multiple and variable assumptions over time, including employee exercise patterns, stock price volatility and changes in dividends. The following are weighted-average assumptions for 2025 grants:


Volatility	26.70		%
Risk-free interest rate	4.10		%
Dividend yield	1.23		%
Expected term (in years)	5.5
Weighted-average fair value / share	$	36.95

Expected volatility is calculated based on an analysis of historic volatility measures for Xylem. We use historical data to estimate option exercise and employee termination behavior within the valuation model. Employee groups and option characteristics are considered separately for valuation purposes. The expected term represents an estimate of the period of time options are expected to remain outstanding. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of option grant.

Restricted Stock Unit Grants


	Share units (in thousands)	Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2025	632	$	111.33
Granted	215	129.67
Vested	(276)	105.99
Forfeited	(15)	115.46
Outstanding at March 31, 2025	556	$	120.93

ROIC and Adjusted EBITDA Performance Share Unit Grants


	Share units (in thousands)	Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2025	77	$	105.02

Adjustment for Performance Condition Achieved (a)	19	86.77
Vested	(44)	86.77
Forfeited	(1)	109.08
Outstanding at March 31, 2025	51	$	113.96

(a) Represents an increase in the number of original ROIC performance share units awarded based on the final market condition achievement at the end of the performance period of such awards.

TSR Performance Share Unit Grants

The following is a summary of our Total Shareholder Return ("TSR") performance share unit grants for the three months ended March 31, 2025:


	Share units (in thousands)	Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2025	155	$	125.42
Granted	53	180.50
Adjustment for Market Condition Achieved (a)	(14)	71.15
Vested	(37)	71.15
Forfeited	(1)	131.07
Outstanding at March 31, 2025	156	$	156.95

(a) Represents a decrease in the number of original TSR performance share units awarded based on the final market condition achievement at the end of the performance period of such awards.

The fair value of TSR performance share units was calculated on the date of grant using a Monte Carlo simulation model utilizing several key assumptions, including expected Company and peer company share price volatility, correlation coefficients between peers, the risk-free rate of return, the expected dividend yield and other award design features. The following are weighted-average assumptions for 2025 grants:




Volatility	25.80	%
Risk-free interest rate	4.01	%

Revenue Performance Share Unit Grants

The following is a summary of our Revenue performance share unit grants for the three months ended March 31, 2025:


	Share units (in thousands)	Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2025	77	$	105.06

Adjustment for Performance Condition Achieved (a)	19	86.77
Vested	(44)	86.77
Forfeited	(1)	109.08
Outstanding at March 31, 2025	51	$	113.96

(a) Represents an increase in the number of original REV performance share units awarded based on the final market condition achievement at the end of the performance period of such awards.

EPS Performance Share Unit Grants

The following is a summary of our EPS performance share unit grants for the three months ended March 31, 2025:


	Share units (in thousands)	Weighted Average Grant Date Fair Value / Share
Outstanding at January 1, 2025	—	$	—
Granted	53	129.67



Outstanding at March 31, 2025	53	$	129.67

The fair value of the EPS performance share unit awards is determined using the closing price of our common stock on date of grant.

The performance share units were each awarded at a target of 100% with actual payout for each type of grant contingent upon the achievement of performance targets as follows:

•ROIC performance share units - a pre-set, three-year adjusted ROIC performance target

•EBITDA performance share units - a third-year adjusted EBITDA performance target

•TSR performance share units - a relative TSR performance

•Revenue performance share units - a pre-set third year revenue target

•EPS performance share units - a cumulative three-year EPS performance target

Goodwill and Other Intangible Assets (Summary of Intangible Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Goodwill and Other Intangible Assets
Accumulated Amortization	$ (1,351)	$ (1,267)
Other Intangibles, Carrying Amount	3,683	3,646
Other Intangibles, Net Intangibles	2,332	2,379
Customer and distributor relationships
Goodwill and Other Intangible Assets
Carrying Amount	2,160	2,151
Accumulated Amortization	(613)	(576)
Net Intangibles	1,547	1,575
Proprietary technology and patents
Goodwill and Other Intangible Assets
Carrying Amount	366	360
Accumulated Amortization	(149)	(138)
Net Intangibles	217	222
Trademarks
Goodwill and Other Intangible Assets
Carrying Amount	184	182
Accumulated Amortization	(113)	(107)
Net Intangibles	71	75
Software
Goodwill and Other Intangible Assets
Carrying Amount	613	595
Accumulated Amortization	(388)	(367)
Net Intangibles	225	228
Other
Goodwill and Other Intangible Assets
Carrying Amount	195	194
Accumulated Amortization	(88)	(79)
Net Intangibles	107	115
Indefinite-lived intangibles
Goodwill and Other Intangible Assets
Accumulated Amortization	0	0
Indefinite-lived intangibles	$ 165	$ 164

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Allowances for discounts, returns and credit losses	$ 53	$ 59
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	750,000,000.0	750,000,000.0
Common Stock, shares issued	259,700,000	259,200,000
Treasury stock, shares	16,300,000	16,200,000
Prepaid and other current assets	$ 260	$ 236

Post-retirement Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2025

Retirement Benefits [Abstract]

Components of net periodic benefit cost and other amounts recognized in other comprehensive income

The components of net periodic benefit cost for our defined benefit pension plans are as follows:


	Three Months Ended
	March 31,
(in millions)	2025		2024
Domestic defined benefit pension plans:
Service cost	$	1	$	1
Interest cost	1		1
Expected return on plan assets	(1)		(1)


Net periodic benefit cost	$	1	$	1
International defined benefit pension plans:
Service cost	$	2	$	2
Interest cost	4		4
Expected return on plan assets	(3)		(3)



Net periodic benefit cost	$	3	$	3
Total net periodic benefit cost	$	4	$	4

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Loss

The following table provides the components of accumulated other comprehensive loss ("AOCL") for the three months ended March 31, 2025:


(in millions)	Foreign Currency Translation		Post-retirement Benefit Plans		Derivative Instruments		Total
Balance at January 1, 2025	$	(368)	$	(53)	$	(14)	$	(435)
Foreign currency translation adjustment	56		—		—		56
Amount of currency translation adjustment relating to divestiture of foreign subsidiaries reclassified into net income	8		—		—		8
Tax on foreign currency translation adjustment	20		—		—		20









Foreign currency translation adjustment for post-retirement benefit plans	—		(1)		—		(1)
Unrealized gain on derivative hedge agreements	—		—		15		15
Income tax benefit on unrealized gain on derivative hedge agreements	—		—		(2)		(2)


Reclassification of unrealized loss on foreign exchange agreements into revenue	—		—		3		3
Reclassification of unrealized gain on foreign exchange agreements into cost of revenue	—		—		(1)		(1)


Balance at March 31, 2025	$	(284)	$	(54)	$	1	$	(337)

The following table provides the components of AOCL for the three months ended March 31, 2024:


(in millions)	Foreign Currency Translation		Post-retirement Benefit Plans		Derivative Instruments		Total
Balance at January 1, 2024	$	(196)	$	(72)	$	(1)	$	(269)

Foreign currency translation adjustment	(65)		—		—		(65)
Tax on foreign currency translation adjustment	(10)		—		—		(10)





Income tax impact on amortization of post-retirement benefit plan items	—		(1)		—		(1)
Foreign currency translation adjustment for post-retirement benefit plans	—		2		—		2
Unrealized loss on derivative hedge agreements	—		—		(3)		(3)



Reclassification of unrealized loss on foreign exchange agreements into cost of revenue	—		—		1		1


Balance at March 31, 2024	$	(271)	$	(71)	$	(3)	$	(345)

Restructuring Charges (Estimated Restructuring Costs) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2025
2024 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			$ 76
Restructuring costs incurred during period	$ 16
Total expected costs remaining			60
2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			51
Restructuring costs incurred during period	1	$ 49
Total expected costs remaining			1
Operating Segments \| Water Infrastructure \| 2024 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			38
Restructuring costs incurred during period	12
Total expected costs remaining			26
Operating Segments \| Water Infrastructure \| 2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			14
Restructuring costs incurred during period	0	14
Total expected costs remaining			0
Operating Segments \| Applied Water \| 2024 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			21
Restructuring costs incurred during period	2
Total expected costs remaining			19
Operating Segments \| Applied Water \| 2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			6
Restructuring costs incurred during period	1	5
Total expected costs remaining			0
Operating Segments \| Measurement and Control Solutions \| 2024 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			5
Restructuring costs incurred during period	1
Total expected costs remaining			4
Operating Segments \| Measurement and Control Solutions \| 2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			1
Restructuring costs incurred during period	0	1
Total expected costs remaining			0
Operating Segments \| Water Solutions and Services \| 2024 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			6
Restructuring costs incurred during period	1
Total expected costs remaining			5
Operating Segments \| Water Solutions and Services \| 2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			29
Restructuring costs incurred during period	0	28
Total expected costs remaining			1
Corporate and other \| 2024 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			6
Restructuring costs incurred during period	0
Total expected costs remaining			6
Corporate and other \| 2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs			1
Restructuring costs incurred during period	$ 0	$ 1
Total expected costs remaining			$ 0

Revenue (Details) - USD ($) $ in Millions	3 Months Ended
Revenue (Details) - USD ($) $ in Millions	Mar. 31, 2025	Mar. 31, 2024
Change in Contract with Customer, Asset [Abstract]
Beginning balance	$ 303	$ 263
Additions, net	133	99
Billings transferred to accounts receivable	(107)	(100)
Other	0	(2)
Ending balance	260	329
Change in Contract with Customer, Liability [Abstract]
Beginning balance	322	315
Additions, net	116	178
Revenue recognized from opening balance	(126)	(161)
Other	1	(10)
Ending balance	322	$ 313
Remaining performance obligation	$ 1,800

Acquisitions and Divestitures

3 Months Ended

Mar. 31, 2025

Business Combinations [Abstract]

Acquisitions and Divestitures

2025 Acquisition

On January 31, 2025, we acquired Simply Clean Air and Water, Inc. ("Simply Clean"), a water service company that specializes in high-purity water systems for life sciences and pharmaceutical markets, for the net cash acquisition price of $7 million. The company is headquartered in Connecticut, U.S. with 20 employees. Our consolidated financial statements include Simply Clean's results of operations within the Water Solutions and Services segment.

2025 Divestiture

On February 7, 2025, we completed the divestiture of our previously held for sale Evoqua Magneto business, which was part of the Water Infrastructure segment, for a cash selling price of $61 million ($48 million, net of cash transferred). As a result of the sale, we recorded an additional loss of $10 million, presented on the Condensed Consolidated Income Statement within "Loss on sale of businesses" in the current period.

2024 Acquisitions

Global Omnium Idrica, S.L.

On April 26, 2023, we acquired a 25.1% equity interest in Global Omnium Idrica S.L. (“Idrica”), a global company specializing in digital transformation for the water industry, offering innovative services and technological solutions for comprehensive water cycle management for $51 million. In connection with the transaction, the Company was granted the right to purchase a majority interest in Idrica from the joint venture partner at a fixed price. The investment was accounted for as an equity method investment as the Company had significant influence but did not have control over Idrica.

On December 10, 2024, we acquired an additional 35.9% equity interest in Idrica for $154 million ($150 million, net of cash received) by exercising our call right and now hold an aggregate ownership interest in Idrica of 61.0%. This was accounted for as a step acquisition where the Company has applied the acquisition method of accounting in accordance with ASC 805, Business Combinations (“ASC 805”). The fair value of our call right was included within the fair value of previously held equity interest and recognized as part of the consideration transferred and the gain on remeasurement of our call right was also included in the gain on remeasurement of previously held equity interest (as discussed below). The Company recognized assets acquired and liabilities assumed at their fair value as of the date of acquisition, with the excess purchase consideration recorded to goodwill. As the Company finalizes the estimation of the fair value of the assets acquired and liabilities assumed,

additional adjustments may be recorded during the measurement period (a period not to exceed 12 months from the acquisition date).

The total fair value of consideration transferred was $637 million, which includes cash paid to Idrica, the remeasurement to fair value of our previously held equity interest, the fair value of the redeemable non-controlling interest, and the settlement of a preexisting contractual relationship between the Company and Idrica. This relationship related to a distribution agreement that the Company had previously recognized in other non-current assets.

The acquisition-date fair value of the consideration consisted of the following:


(in millions)	Fair Value of Purchase Consideration
Cash paid	$	154
Fair value of previously held equity interest	193
Fair value of redeemable non-controlling interest	237
Settlement of preexisting relationship	53
Total	$	637

The Company remeasured its previously held 25.1% equity interest in Idrica immediately prior to the completion of the acquisition to its estimated fair value of approximately $193 million. This fair value was derived by using the discounted cash flow method of the income approach, which considers future cash flows that are discounted to present value at a rate of return commensurate with the business and financial risks associated with the expected achievement of the projected cash flows. As a result of the remeasurement of its previously held equity interest, the Company recognized a gain of approximately $152 million in the fourth quarter of 2024. The gain reflects the excess of the estimated fair value of $193 million for the Company’s previously held 25.1% equity interest over its carrying value of approximately $41 million.

The following table summarizes the preliminary acquisition date fair value of net tangible and intangible assets acquired, net of liabilities assumed from Idrica:


(in millions)	Fair Value
Cash and cash equivalents	$	4
Receivables	5
Prepaid and other current assets	6
Goodwill	521
Other intangible assets, net	165
Other non-current assets	15
Accounts payable	(8)
Accrued and other current liabilities	(4)
Short term borrowings and current maturities of long-term debt	(16)
Long term debt	(7)

Deferred income tax liabilities	(41)
Other non-current accrued liabilities	(3)


Total	$	637

The preliminary purchase price allocation is subject to further refinement and may require significant adjustments to arrive at the final purchase price allocation. The above fair values of assets acquired and liabilities assumed are preliminary. The fair values of the intangible assets acquired were preliminarily determined using the income and cost approaches. In many cases, the determination of the fair values required estimates about discount rates, future expected cash flows, and other future events that are judgmental and subject to change. The final determination of the fair value of certain assets and liabilities will be completed as soon as the necessary information becomes available but no later than one year from the acquisition date.

Our revenue and net loss attributable to the Idrica acquisition for the year ended December 31, 2024 and three months ended March 31, 2025 were not material. The $521 million of goodwill recognized, which is not deductible

for U.S. income tax purposes, is primarily attributable to costs and revenue synergies and economies of scale expected from combining the operations of Idrica with Xylem.

Identifiable Intangible Assets Acquired

The following table summarizes key information underlying identifiable intangible assets related to the Idrica acquisition:


(in millions)	Useful Life (in years)(a)	Fair Value (in millions)
Customer Relationships	24	$	28
Backlog	9	2
Technology	7	132
Trade Name	10	2
Intangible Assets Under Construction	N/A	1
Total	10	$	165

(a)Useful life approximates weighted average useful life.

Pro forma results of operations have not been included, as the acquisition of Idrica was not material to our results of operations for any periods presented.

Heusser

On December 5, 2024, we acquired all issued and outstanding shares of Heusser Water Solutions AG ("Heusser"), a leading distributor and provider of advanced pumping systems and treatment solutions in Switzerland, for $40 million ($35 million, net of cash received). Heusser, a privately-owned company headquartered in Cham, Switzerland, has approximately 90 employees. Our consolidated financial statements include Heusser's results of operations prospectively from December 5, 2024 primarily within the Water Infrastructure segment.

Derivative Financial Instruments (Effect of Deriative Instruments on Income Statement and Statement of Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Derivative Financial Instruments
Amount of gain (loss) recognized in OCI	$ (15)	$ 3
Amount of gain reclassified from OCI into revenue	(2,069)	(2,033)
Reclassification out of Accumulated Other Comprehensive Income \| Foreign Exchange Contract \| Cash Flow Hedges
Derivative Financial Instruments
Amount of gain reclassified from OCI into revenue	3	0
Amount of (gain) loss reclassified from OCI into cost of revenue	(1)	1
Cash Flow Hedging \| Foreign Exchange Contract \| Cash Flow Hedges
Derivative Financial Instruments
Amount of gain (loss) recognized in OCI	15	(3)
Cash Flow Hedging \| Cross Currency Swaps
Derivative Financial Instruments
Amount of gain (loss) recognized in OCI	(84)	40
Interest Expense \| Cash Flow Hedging \| Cross Currency Swaps
Derivative Financial Instruments
Amount of gain (loss) recognized in OCI	$ 11	$ 8

Segment Information (Textuals) (Details)	3 Months Ended
Segment Information (Textuals) (Details)	Mar. 31, 2025 segment
Segment Reporting [Abstract]
Number of reportable segments	4

Commitments and Contingencies (Textual) (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Legal contingency accrual	$ 4
Guarantee amounts	748	$ 758
Estimated environmental matters	$ 4

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2025
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events At the beginning of the second quarter, we acquired all issued and outstanding shares of Vacom Systems LLC, a clean water technology provider in the U.S., for a purchase price of $42 million in cash and 5% royalty on revenue capped at $25 million during the first 5 years after acquisition.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Legal Proceedings

From time to time, we are involved in legal and regulatory proceedings that are incidental to the operation of our businesses (or the business operations of previously owned entities). These proceedings may seek remedies relating to matters including environmental, tax, intellectual property, acquisitions or divestitures, product liability, property damage, personal injury, privacy, employment, labor and pension, government investigations or contract issues and commercial or contractual disputes.

See Note 6, "Income Taxes," of our condensed consolidated financial statements for a description of a pending tax litigation matter.

Although the ultimate outcome of any legal matter cannot be predicted with certainty, based on present information, including our assessment of the merits of the particular claims, we do not believe it is reasonably possible that any asserted or unasserted legal claims or proceedings, individually or in aggregate, will have a material adverse effect on our results of operations, or financial condition. We have estimated and accrued $4 million as of March 31, 2025 and December 31, 2024 for these general legal matters.

Guarantees

We obtain certain stand-by letters of credit, bank guarantees, surety bonds and insurance letters of credit from third-party financial institutions in the ordinary course of business when required under contracts or to satisfy insurance-related requirements. As of March 31, 2025 and December 31, 2024, the amount of surety bonds, bank guarantees, insurance letters of credit, stand-by letters of credit as well as revenue and customs guarantees was $748 million and $758 million, respectively.

Environmental

In the ordinary course of business, we are subject to federal, state, local, and foreign environmental laws and regulations. We are responsible, or are alleged to be responsible, for ongoing environmental investigation and remediation of sites in various countries. Our accrued environmental liabilities represent our best estimates related to the investigation and remediation of environmental media such as water, soil, soil vapor, air and structures at these sites, as well as related legal fees. Liabilities for these environmental expenditures are recorded on an undiscounted basis. We have estimated and accrued $4 million as of March 31, 2025 and December 31, 2024 for environmental matters.

Given the complexities and uncertainties involved in on-going and future investigation and remediation projects, the process to estimate environmental remediation liabilities requires judgement. We believe the total amount accrued is reasonable based on existing facts and circumstances.

Warranties

We warrant numerous products, the terms of which vary widely. In general, we warrant products against defects and specific non-performance. The table below provides changes in the combined current and non-current product warranty accruals over each period:


(in millions)	2025		2024
Warranty accrual – January 1	$	57	$	63
Net charges for product warranties in the period	10		9

Settlement of warranty claims	(8)		(9)
Foreign currency and other	1		(1)
Warranty accrual – March 31	$	60	$	62

Derivative Financial Instruments (Textual) (Details) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Derivative [Line Items]
Net losses expected to be reclassified in next 12 months	$ 1
Foreign Exchange Contract
Derivative [Line Items]
Notional amount	518	$ 657
Derivatives designated as hedging instruments \| Sell USD Buy EUR
Derivative [Line Items]
Notional amount	202
Derivatives designated as hedging instruments \| Buy KR Sell EUR
Derivative [Line Items]
Notional amount	141
Derivatives designated as hedging instruments \| Sell GBP Buy EUR
Derivative [Line Items]
Notional amount	70
Derivatives designated as hedging instruments \| Buy PLN Sell EUR
Derivative [Line Items]
Notional amount	30
Derivatives designated as hedging instruments \| Sell CNY Buy EUR
Derivative [Line Items]
Notional amount	32
Derivatives designated as hedging instruments \| Buy AUD Sell EUR
Derivative [Line Items]
Notional amount	24
Derivatives designated as hedging instruments \| Cross Currency Swaps
Derivative [Line Items]
Notional amount	2,906	$ 2,181
Derivatives designated as hedging instruments \| Sell AUD Buy EUR
Derivative [Line Items]
Notional amount	$ 19

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our quarterly provision for income taxes is measured using an estimated annual effective tax rate, adjusted for discrete items within the periods presented. The comparison of our effective tax rate between periods is significantly impacted by the level and mix of earnings and losses by tax jurisdiction and discrete items. The income tax provision for the three months ended March 31, 2025 was $50 million resulting in an effective tax rate of 23.1%, compared to a $43 million expense resulting in an effective tax rate of 21.8% for the same period in 2024. The effective tax rate for the three month period ended March 31, 2025 was higher than the U.S. federal statutory rate primarily due to mix of earnings across different jurisdictions. Unrecognized Tax Benefits During 2019, Xylem’s Swedish subsidiary received a tax assessment from the Swedish Tax Agency (the "STA") for the 2013 tax year related to the tax treatment of an intercompany transfer of certain intellectual property that was made in connection with a reorganization of our European businesses. Xylem filed an appeal with the Administrative Court of Växjö, which rendered a decision adverse to Xylem in June 2022 for SEK837 million (approximately $84 million), consisting of the full tax assessment amount plus penalties and interest. Xylem appealed this decision with the intermediate appellate court, the Administrative Court of Appeal, and on May 15, 2024, that court rendered a decision in favor of Xylem and also remanded an issue to the trial court for resolution. In June 2024, the STA filed a notice of appeal of this decision to the Supreme Administrative Court (the “Court”), which declined to hear the case and remanded one issue back to the Administrative Court for further consideration. Management, in consultation with external legal advisors, continues to believe it is more likely than not that Xylem will prevail on the proposed assessment and will continue to vigorously defend our position through this litigation. There can be no assurance that the final determination by the authorities will not be materially different than our position. As of March 31, 2025, we do not have any unrecognized tax benefits related to this tax position.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Post-retirement Benefit Plans (Textuals) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block
Employer contribution to defined benefit plan	$ 5	$ 4
Maximum
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block
Other postretirement benefit expense	1	1
Amortization of net actuarial loss	1	$ 1
Additional contributions	17
Minimum
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block
Additional contributions	$ 13

Credit Facilities and Debt (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of Credit Facilities and Long-Term Debt

Total debt outstanding is summarized as follows:


(in millions)	March 31, 2025		December 31, 2024

3.250% Senior Notes due 2026 (a)	$	500	$	500
1.950% Senior Notes due 2028 (a)	500		500
2.250% Senior Notes due 2031 (a)	500		500
4.375% Senior Notes due 2046 (a)	400		400
Equipment Financing due 2025 to 2032	102		106




Other	27		25
Debt issuance costs and unamortized discount (b)	(14)		(15)

Total debt	2,015		2,016
Less: short-term borrowings and current maturities of long-term debt	41		38
Total long-term debt	$	1,974	$	1,978

Schedule of Other Assets

As of March 31, 2025, the gross and net amounts of those assets are included on the Consolidated Balance Sheets as follows:


	March 31, 2025
(in millions)	Gross		Net
Property, plant, and equipment, net	$	70	$	56
Receivables, net	3		3
Prepaid and other current assets	5		5
Other non-current assets	141		140
	$	219	$	204

Schedule of Maturities of Long-Term Debt

As of March 31, 2025 the future maturities of our debt were as follows


(in millions)	Maturity
2026	$	41
2027	521
2028	519
2029	15
2030	28
Thereafter	905
Total Future Maturities	2,029
Debt issuance costs and unamortized discount (a)	(14)
Total	$	2,015

Commercial Paper

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Acquisitions and Divestitures (Preliminary allocation of Consideration Paid) (Details) - Global Omnium Idrica S.L. $ in Millions	Dec. 10, 2024 USD ($)
Business Acquisition [Line Items]
Cash paid	$ 154
Fair value of previously held equity interest	193
Fair value of redeemable non-controlling interest	237
Settlement of preexisting relationship	53
Consideration transferred	$ 637

Capital Stock (Textuals) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Aug. 24, 2015
Share Repurchase Programs
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares) (less than)	0.1	0.1
Shares repurchased	$ 13.0	$ 15.0
2015 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount			$ 500.0
Remaining authorized amount of repurchase	$ 182.0
Settlement of Employee Tax Withholding Obligations
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares) (less than)	0.1	0.1
Shares repurchased	$ 13.0	$ 15.0

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Operating Activities
Net income	$ 169	$ 153
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	68	61
Amortization	77	73
Share-based compensation	12	18
Restructuring and asset impairment charges	21	10
Loss on sale of businesses	(10)	(5)
Other, net	11	(2)
Payments for restructuring	(21)	(11)
Changes in assets and liabilities (net of acquisitions):
Changes in receivables	(48)	(47)
Changes in inventories	(9)	(52)
Changes in accounts payable	(64)	6
Other, net	(193)	(125)
Net Cash – Operating activities	33	89
Investing Activities
Capital expenditures	(71)	(74)
Acquisitions of businesses, net of cash acquired	(7)	0
Proceeds from sale of businesses, net of cash disposed	48	11
Proceeds from the sale of property, plant and equipment	5	1
Cash received from investments	0	2
Cash paid for investments	0	(2)
Cash paid for equity investments	(1)	0
Cash received from cross-currency swaps	12	11
Other, net	(1)	0
Net Cash – Investing activities	(15)	(51)
Financing Activities
Short-term debt issued, net	1	0
Long-term debt repaid	(4)	(5)
Repurchase of common stock	(13)	(15)
Proceeds from exercise of employee stock options	6	33
Dividends paid	(98)	(88)
Other, net	(8)	(7)
Net Cash – Financing activities	(116)	(82)
Effect of exchange rate changes on cash	25	(28)
Changes in cash classified within assets held for sale	11	0
Net change in cash and cash equivalents	(62)	(72)
Cash and cash equivalents at beginning of year	1,121	1,019
Cash and cash equivalents at end of period	1,059	947
Cash paid during the period for:
Interest	12	13
Income taxes (net of refunds received)	$ 37	$ 39

Accrued and Other Current Liabilities

3 Months Ended

Mar. 31, 2025

Payables and Accruals [Abstract]

Accrued and Other Current Liabilities

Current Liabilities

The components of total Accrued and other current liabilities are as follows:


(in millions)	March 31, 2025		December 31, 2024
Compensation and other employee-benefits	$	284	$	409
Customer-related liabilities	390		384
Accrued taxes	219		201
Lease liabilities	121		109
Accrued warranty costs	44		43
Other accrued liabilities	109		125
Total accrued and other current liabilities	$	1,167	$	1,271

The Company facilitates the opportunity for suppliers to participate in voluntary supply chain financing programs with third-party financial institutions. Xylem agrees on commercial terms, including payment terms, with suppliers regardless of program participation. The Company does not determine the terms or conditions of the arrangement between suppliers and the third-party financial institutions. Participating suppliers are paid directly by the third-party financial institution. Xylem pays the third-party financial institution the stated amount of confirmed invoices from its designated suppliers at the original invoice amount on the original maturity dates of the invoices, ranging from 45-180 days. Xylem does not pay fees related to these programs. Xylem or the third-party financial institutions may terminate the agreements upon at least 30 days’ notice. The total outstanding balance presented within "Accounts payable" on our Condensed Consolidated Balance Sheets under these programs is $264 million and $250 million as of March 31, 2025 and December 31, 2024, respectively.

The table below provides changes in the confirmed obligations outstanding related to our supplier financing programs over the three months ended March 31, 2025:


(in millions)	2025
Confirmed obligations outstanding – January 1	$	250
Invoices confirmed	259
Confirmed invoices paid	(248)
Foreign currency and other	3
Confirmed obligations outstanding – March 31	$	264

Condensed Consolidated Income Statements (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Revenue	$ 2,069	$ 2,033
Cost of revenue	1,301	1,281
Gross profit	768	752
Selling, general and administrative expenses	460	474
Research and development expenses	56	59
Restructuring and asset impairment charges	21	10
Operating income	231	209
Interest expense	(8)	(14)
Other non-operating income, net	4	6
Loss on sale of businesses	(10)	(5)
Income before taxes	217	196
Income tax expense	(50)	(43)
Net income	167	153
Net loss attributable to non-controlling interests	2	0
Net income attributable to Xylem	$ 169	$ 153
Earnings per share:
Basic (usd per share)	$ 0.69	$ 0.63
Diluted (usd per share)	$ 0.69	$ 0.63
Weighted average number of shares:
Basic (in shares)	243,105	241,854
Diluted (in shares)	243,780	243,021
Revenue from products
Revenue	$ 1,709	$ 1,690
Cost of revenue	1,041	1,021
Revenue from services
Revenue	360	343
Cost of revenue	$ 260	$ 260

Revenue (Tables)

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table illustrates the sources of revenue:


	Three Months Ended
	March 31,
(in millions)	2025		2024
Revenue from contracts with customers	$	2,002	$	1,910
Lease Revenue	67		123
Total	$	2,069	$	2,033

The following table reflects revenue from contracts with customers by application.


	Three Months Ended
	March 31,
(in millions)	2025		2024
Water Infrastructure
Transport	$	345	$	337
Treatment	236		237

Applied Water
Building Solutions	247		240
Industrial Water	188		196

Measurement and Control Solutions



Smart Metering and Other	404		377
Analytics	86		85

Water Solutions and Services
Capital and Other	254		203
Services	242		235

Total	$	2,002	$	1,910

The following table reflects revenue from contracts with customers by geographical region.


	Three Months Ended
	March 31,
(in millions)	2025		2024
Water Infrastructure
United States	$	210	$	204
Western Europe	211		211
Emerging Markets (a)	115		114
Other	45		45

Applied Water
United States	239		232
Western Europe	98		99
Emerging Markets (a)	65		73
Other	33		32

Measurement and Control Solutions
United States	322		305
Western Europe	77		82
Emerging Markets (a)	45		44
Other	46		31

Water Solutions and Services
United States	376		335
Western Europe	24		23
Emerging Markets (a)	49		42
Other	47		38

Total	$	2,002	$	1,910

Contract with Customer, Asset and Liability

The table below provides contract assets, contract liabilities, and significant changes in contract assets and liabilities:


(in millions)	Contract Assets (a)		Contract Liabilities
Balance at January 1, 2024	$	263	$	315

Additions, net	99		178
Revenue recognized from opening balance	—		(161)
Billings transferred to accounts receivable	(100)		—
Other	(2)		(10)
Balance at March 31, 2024	$	260	$	322

Balance at January 1, 2025	$	303	$	322

Additions, net	133		116
Revenue recognized from opening balance			(126)
Billings transferred to accounts receivable	(107)		—
Other	—		1
Balance at March 31, 2025	$	329	$	313

(a)Excludes receivable balances, which are disclosed on the Condensed Consolidated Balance Sheets

Credit Facilities and Debt (Summary of Debt Outstanding) (Details) - USD ($)
$ in Millions

Mar. 31, 2025

Dec. 31, 2024

Credit Facilities and Long-Term Debt :

Debt issuance costs and unamortized discount

^[1]

$ (14)

$ (15)

Total

2,015

2,016

Less: short-term borrowings and current maturities of long-term debt

Long-term debt

1,974

1,978

Other

Credit Facilities and Long-Term Debt :

Senior Notes Due

$ 27

Senior Notes due 2026

Credit Facilities and Long-Term Debt :

Interest rate

3.25%

Long-term debt, fair value

$ 491

488

Senior Notes due 2026 | Senior Loans

Credit Facilities and Long-Term Debt :

Senior Notes Due

^[2]

$ 500

500

Senior Notes Due 2028

Credit Facilities and Long-Term Debt :

Interest rate

1.95%

Long-term debt, fair value

$ 467

459

Senior Notes Due 2028 | Senior Loans

Credit Facilities and Long-Term Debt :

Senior Notes Due

$ 500

500

Senior Notes Due 2031

Credit Facilities and Long-Term Debt :

Interest rate

2.25%

Long-term debt, fair value

$ 437

427

Senior Notes Due 2031 | Senior Loans

Credit Facilities and Long-Term Debt :

Senior Notes Due

$ 500

500

Senior Notes due 2046

Credit Facilities and Long-Term Debt :

Interest rate

4.375%

Long-term debt, fair value

$ 332

327

Senior Notes due 2046 | Senior Loans

Credit Facilities and Long-Term Debt :

Senior Notes Due

^[2]

400

Equipment Financing | Secured Debt

Credit Facilities and Long-Term Debt :

Senior Notes Due

$ 102

$ 106

[1]

The debt issuance costs and unamortized discount are recognized as a reduction in the carrying value of the Senior Notes in the Condensed Consolidated Balance Sheets and are being amortized to interest expense in our Condensed Consolidated Income Statements over the expected remaining terms of the Senior Notes.

[2]

The fair value of our Senior Notes was determined using quoted prices in active markets for identical securities, which are considered Level 1 inputs. The fair value of our Senior Notes due 2026 was $491 million and $488 million as of March 31, 2025 and December 31, 2024, respectively. The fair value of our Senior Notes due 2028 was $467 million and $459 million as of March 31, 2025 and December 31, 2024, respectively. The fair value of our Senior Notes due 2031 was $437 million and $427 million as of March 31, 2025 and December 31, 2024, respectively. The fair value of our Senior Notes due 2046 was $332 million and $327 million as of March 31, 2025 and December 31, 2024, respectively.

Subsequent Events (Details) - Subsequent Event - Vacom Systems LLC $ in Millions	Apr. 01, 2025 USD ($)
Subsequent Event [Line Items]
Cash paid	$ 42
Royalty on revenue, percentage	5.00%
Royalty on revenue, maximum	$ 25
Royalty on revenue, period after acquisition	5 years

Background and Basis of Presentation (Details)	3 Months Ended
Background and Basis of Presentation (Details)	Mar. 31, 2025 segment
Accounting Policies [Abstract]
Number of operating segment	4

Redeemable Non-Controlling Interest	3 Months Ended
Redeemable Non-Controlling Interest	Mar. 31, 2025
Noncontrolling Interest [Abstract]
Redeemable Non-Controlling Interest	Redeemable Non-Controlling Interest The holder of the non-controlling interest in Idrica, which is a consolidated subsidiary of the Company, has a right to sell the remaining equity interest in Idrica to the Company for cash (the “Put Right”). The Put Right is exercisable after December 10, 2027 and has a fixed strike price of €168 million during the first two years after it is exercisable. Beginning in the third year of exercisability, the Put Right is exercisable at the fair market value of underlying equity interests. Redeemable non-controlling interest is reflected in the consolidated balance sheets at the greater of the carrying value or the redemption value. As of March 31, 2025, the redeemable non-controlling interest is reflected in the consolidated balance sheet at its carrying value.

Acquisitions and Divestitures (Details Textual) $ in Millions						3 Months Ended
	Feb. 07, 2025 USD ($)	Jan. 31, 2025 USD ($) employee	Dec. 10, 2024 USD ($)	Dec. 05, 2024 USD ($) employee	Apr. 26, 2023 USD ($)	Mar. 31, 2025 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 09, 2024 USD ($)
Business Acquisition [Line Items]
Proceeds from sale of businesses, net of cash disposed						$ 48	$ 11
Loss on sale of businesses						10	5
Payments to acquire equity method investments						1	0
Acquisition of business, net of cash acquired						7	$ 0
Goodwill						8,061		$ 7,980
Global Omnium Idrica S.L.
Business Acquisition [Line Items]
Ownership percentage, parent			61.00%
Global Omnium Idrica S.L.
Business Acquisition [Line Items]
Ownership percentage in equity method investment					25.10%
Payments to acquire equity method investments					$ 51
Equity securities, FV-NI									$ 193
Gain on remeasurement of previously held equity interest						$ 152
Equity securities, FV-NI, cost			$ 41
Disposed of by Sale \| Evoqua Magneto
Business Acquisition [Line Items]
Proceeds from sale of businesses	$ 61
Proceeds from sale of businesses, net of cash disposed	48
Loss on sale of businesses	$ 10
Simply Clean Air and Water, Inc
Business Acquisition [Line Items]
Cash paid		$ 7
Number of employees \| employee		20
Global Omnium Idrica S.L.
Business Acquisition [Line Items]
Cash paid			$ 154
Percentage of ownership interest acquired			35.90%
Acquisition of business, net of cash acquired			$ 150
Consideration transferred			637
Goodwill			521
Goodwill, expected tax deductible amount			$ 0
Heusser Water Solutions AG
Business Acquisition [Line Items]
Number of employees \| employee				90
Proceeds from sale of businesses, net of cash disposed				$ 35
Consideration transferred				$ 40

Segment and Geographic Data (Summary of Operating Results by Segment) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Financial information for each reportable segment
Capital Expenditures:	$ 71	$ 74
Operating Segments
Financial information for each reportable segment
Depreciation and Amortization:	145	134
Capital Expenditures:	71	74
Water Infrastructure \| Operating Segments
Financial information for each reportable segment
Depreciation and Amortization:	23	31
Capital Expenditures:	11	8
Applied Water \| Operating Segments
Financial information for each reportable segment
Depreciation and Amortization:	8	7
Capital Expenditures:	9	5
Measurement and Control Solutions \| Operating Segments
Financial information for each reportable segment
Depreciation and Amortization:	39	33
Capital Expenditures:	16	18
Water Solutions and Services \| Operating Segments
Financial information for each reportable segment
Depreciation and Amortization:	68	60
Capital Expenditures:	20	33
Regional Selling Locations \| Operating Segments
Financial information for each reportable segment
Capital Expenditures:	7	6
Corporate and other \| Operating Segments
Financial information for each reportable segment
Depreciation and Amortization:	7	3
Capital Expenditures:	$ 8	$ 4

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Effect of derivative financial instruments

The table below presents the effect of our derivative financial instruments on the Condensed Consolidated Income Statements and Statements of Comprehensive Income. Items in the table below reflect changes in "Other comprehensive income (loss)" ("OCI/L") within the Statements of Comprehensive Income:


	Three Months Ended
	March 31,
(in millions)	2025		2024
Derivatives in Cash Flow Hedges
Foreign Exchange Contracts
Amount of gain (loss) recognized in OCL	$	15	$	(3)
Amount of loss reclassified from OCL into Revenue	3		—
Amount of (gain) loss reclassified from OCL into Cost of revenue	(1)		1

Derivatives Net Investment Hedges
Cross-Currency Swaps
Amount of (loss) gain recognized in OCL	$	(84)	$	40
Amount of income recognized in Interest expense	11		8

Fair values of foreign exchange contracts

The fair values of our derivative contracts currently included in our hedging program were as follows:


(in millions)	March 31, 2025		December 31, 2024
Derivatives designated as hedging instruments
Assets
Cash Flow Hedges
Prepaid and other current assets	$	10	$	3
Net Investment Hedges
Other non-current assets	$	27	$	50
Liabilities
Cash Flow Hedges
Accrued and other current liabilities	$	(5)	$	(15)
Net Investment Hedges
Other non-current accrued liabilities	$	(90)	$	(30)

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 10,647	$ 10,176
Foreign currency translation adjustment	56	(65)
Tax on foreign currency translation adjustment	(8)	0
Foreign currency translation adjustment	(1)	2
Ending balance	10,822	10,203
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(368)	(196)
Foreign currency translation adjustment	56	(65)
Tax on foreign currency translation adjustment	20	(10)
Ending balance	(284)	(271)
Post-retirement Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(53)	(72)
Income tax impact on amortization of post-retirement benefit plan items		(1)
Foreign currency translation adjustment	(1)	2
Ending balance	(54)	(71)
Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(14)	(1)
Unrealized gain on derivative hedge agreements	15	(3)
Income tax benefit on unrealized gain on derivative hedge agreements	(2)
Ending balance	1	(3)
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(435)	(269)
Foreign currency translation adjustment	56	(65)
Tax on foreign currency translation adjustment	20	(10)
Income tax impact on amortization of post-retirement benefit plan items		(1)
Foreign currency translation adjustment	(1)	2
Unrealized gain on derivative hedge agreements	15	(3)
Income tax benefit on unrealized gain on derivative hedge agreements	(2)
Ending balance	(337)	(345)
Revenue \| Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification of unrealized gain (loss) on foreign exchange agreements	3
Revenue \| Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification of unrealized gain (loss) on foreign exchange agreements	3
Cost of Revenue \| Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification of unrealized gain (loss) on foreign exchange agreements	(1)	1
Cost of Revenue \| Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification of unrealized gain (loss) on foreign exchange agreements	$ (1)	$ 1

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2025	Mar. 31, 2024
Pay vs Performance Disclosure
Net income attributable to Xylem	$ 169	$ 153

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
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-Name Accounting Standards Codification
-Section 65
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-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 2
-Subparagraph (SX 210.5-03(20))
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-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.4-08(g)(1)(ii))
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
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-Subparagraph (b)(2)
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-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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Reference 17: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Risk Management Objective of Using Derivatives

We are exposed to certain risks arising from both our business operations and economic conditions, and we principally manage our exposures to these risks through management of our core business activities. Certain of our foreign operations expose us to fluctuations of foreign interest rates and exchange rates that may impact revenue, expenses, cash receipts, cash payments, and the value of our stockholders' equity. We enter into derivative financial instruments to protect the value or fix the amount of certain cash flows in terms of the functional currency of the business unit with that exposure and also reduce the volatility in stockholders' equity.

Cash Flow Hedges of Foreign Exchange Risk

We are exposed to fluctuations in various foreign currencies against our functional currencies. We use foreign currency derivatives, including currency forward agreements, to manage our exposure to fluctuations in the various exchange rates. Currency forward agreements involve fixing the foreign currency exchange rate for delivery of a specified amount of foreign currency on a specified date.

Certain business units with exposure to foreign currency exchange risks have designated certain currency forward agreements as cash flow hedges of forecasted intercompany inventory purchases and sales. Our principal currency exposures for which we enter into cash flow hedges relate to the Euro, Swedish Krona, British Pound, Canadian Dollar, Polish Zloty, and Australian Dollar. We had foreign exchange contracts with purchased notional amounts totaling $518 million and $657 million as of March 31, 2025 and December 31, 2024, respectively. As of March 31, 2025, our most significant foreign currency derivatives included contracts to sell U.S. Dollar and purchase Euro, purchase Swedish Krona and sell Euro, sell British Pound and purchase Euro, sell Canadian Dollar and purchase Euro, sell Canadian Dollar and purchase U.S. Dollar, purchase Polish Zloty and sell Euro, and sell Australian Dollar and purchase Euro. The purchased notional amounts associated with these currency derivatives are $202 million, $141 million, $70 million, $32 million, $30 million, $24 million, and $19 million, respectively. As of December 31, 2024, our most significant foreign currency derivatives included contracts to sell U.S. Dollar and purchase Euro, purchase Swedish Krona and sell Euro, sell British Pound and purchase Euro, sell Canadian Dollar and purchase Euro, sell Canadian Dollar and purchase U.S. Dollar, purchase Polish Zloty and sell Euro, and sell Australian Dollar and purchase Euro. The purchased notional amounts associated with these currency derivatives are $258 million, $169 million, $90 million, $42 million, $40 million, $34 million, and $24 million, respectively.

Hedges of Net Investments in Foreign Operations

We are exposed to changes in foreign currencies impacting our net investments held in foreign subsidiaries.

Cross-Currency Swaps

Beginning in 2015, we entered into cross-currency swaps to manage our exposure to fluctuations in the Euro-U.S. Dollar exchange rate. During the second quarter of 2019, third quarter of 2020, and second quarter of 2022 we entered into additional cross-currency swaps. The total notional amount of derivative instruments designated as net investment hedges was $2,906 million and $2,181 million as of March 31, 2025 and December 31, 2024, respectively.

In February 2025, the Company completed a transaction to effectively amend and extend the cross-currency swaps maturing in January 2028. The liability position of the existing cross-currency swaps was blended into new cross-currency swap agreement with notional amount of $509 million maturing in July 2028.


	Three Months Ended
	March 31,
(in millions)	2025		2024
Derivatives in Cash Flow Hedges
Foreign Exchange Contracts
Amount of gain (loss) recognized in OCL	$	15	$	(3)
Amount of loss reclassified from OCL into Revenue	3		—
Amount of (gain) loss reclassified from OCL into Cost of revenue	(1)		1

Derivatives Net Investment Hedges
Cross-Currency Swaps
Amount of (loss) gain recognized in OCL	$	(84)	$	40
Amount of income recognized in Interest expense	11		8

As of March 31, 2025, $1 million of net gains on cash flow hedges are expected to be reclassified into earnings in the next 12 months.

As of March 31, 2025, no gains or losses on the net investment hedges are expected to be reclassified into earnings over their duration.

The fair values of our derivative assets and liabilities are measured on a recurring basis using Level 2 inputs and are determined through the use of models that consider various assumptions including yield curves, time value and other measurements.

The fair values of our derivative contracts currently included in our hedging program were as follows:


(in millions)	March 31, 2025		December 31, 2024
Derivatives designated as hedging instruments
Assets
Cash Flow Hedges
Prepaid and other current assets	$	10	$	3
Net Investment Hedges
Other non-current assets	$	27	$	50
Liabilities
Cash Flow Hedges
Accrued and other current liabilities	$	(5)	$	(15)
Net Investment Hedges
Other non-current accrued liabilities	$	(90)	$	(30)

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill

Changes in the carrying value of goodwill by reportable segment for the three months ended March 31, 2025 are as follows:


(in millions)	Water Infrastructure		Applied Water		Measurement and Control Solutions		Water Solutions and Services		Total


Balance as of January 1, 2025	2,098		884		2,163		2,835		7,980
Activity in 2025




Foreign currency and other	33		6		37		5		81
Balance as of March 31, 2025	$	2,131	$	890	$	2,200	$	2,840	$	8,061

Other Intangible Assets

Information regarding our other intangible assets is as follows:


	March 31, 2025						December 31, 2024
(in millions)	Carrying Amount		Accumulated Amortization		Net Intangibles		Carrying Amount		Accumulated Amortization		Net Intangibles
Customer and distributor relationships	$	2,160	$	(613)	$	1,547	$	2,151	$	(576)	$	1,575
Proprietary technology and patents	366		(149)		217		360		(138)		222
Trademarks	184		(113)		71		182		(107)		75
Software	613		(388)		225		595		(367)		228
Other	195		(88)		107		194		(79)		115
Indefinite-lived intangibles	165		—		165		164		—		164
Other Intangibles	$	3,683	$	(1,351)	$	2,332	$	3,646	$	(1,267)	$	2,379

Amortization expense related to finite-lived intangible assets was $77 million and $73 million for the three-month periods ended March 31, 2025 and 2024, respectively.

During the first quarter of 2025, we recognized a $1 million and $3 million impairment charge for internally developed software within Water Infrastructure and Water Solutions and Services segments, respectively.

During the first quarter of 2024, we recognized a $1 million impairment charge for internally developed software within Corporate.

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 1,059	$ 1,121
Receivables, less allowances for discounts, returns and credit losses of $53 and $59 in 2025 and 2024, respectively	1,743	1,668
Inventories	1,022	996
Prepaid and other current assets	260	236
Assets held for sale	0	77
Total current assets	4,084	4,098
Property, plant and equipment, net	1,157	1,152
Goodwill	8,061	7,980
Other intangible assets, net	2,332	2,379
Other non-current assets	925	884
Total assets	16,559	16,493
Current liabilities:
Accounts payable	958	1,006
Accrued and other current liabilities	1,167	1,271
Short-term borrowings and current maturities of long-term debt	41	38
Liabilities held for sale	0	21
Total current liabilities	2,166	2,336
Long-term debt	1,974	1,978
Accrued post-retirement benefit obligations	317	304
Deferred income tax liabilities	486	497
Other non-current accrued liabilities	562	496
Total liabilities	5,505	5,611
Commitments and contingencies (Note 18)
Redeemable non-controlling interest	232	235
Stockholders’ equity:
Authorized 750.0 shares, issued 259.7 shares and 259.2 shares in 2025 and 2024, respectively	3	3
Capital in excess of par value	8,705	8,687
Retained earnings	3,211	3,140
Treasury stock – at cost 16.3 shares and 16.2 shares in 2025 and 2024, respectively	(766)	(753)
Accumulated other comprehensive loss	(337)	(435)
Total stockholders’ equity	10,816	10,642
Non-controlling interests	6	5
Total equity	10,822	10,647
Total liabilities, redeemable non-controlling interest, and stockholders’ equity	$ 16,559	$ 16,493

Redeemable Non-Controlling Interest (Details) - Global Omnium Idrica S.L. € in Millions	3 Months Ended
	Mar. 31, 2025 EUR (€)
Redeemable Noncontrolling Interest [Line Items]
Redeemable noncontrolling interest, fixed strike price	€ 168
Fixed strike price period	2 years

Accrued and Other Current Liabilities (Details) $ in Millions	3 Months Ended
	Mar. 31, 2025 USD ($)
Supplier Finance Program, Obligation [Roll Forward]
Confirmed obligations outstanding – January 1	$ 250
Invoices confirmed	259
Confirmed invoices paid	(248)
Foreign currency and other	3
Confirmed obligations outstanding – March 31	$ 264

Restructuring Charges (Textuals) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	$ 17	$ 9
Asset Impairment Charges	4	1
Corporate and other
Restructuring Cost and Reserve [Line Items]
Restructuring costs, net	0	2
Corporate and other \| 2024 Plan
Restructuring Cost and Reserve [Line Items]
Asset Impairment Charges		$ 1
Water Solutions and Services and Water Infrastructure
Restructuring Cost and Reserve [Line Items]
Asset Impairment Charges	$ 4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Income Taxes (Textuals) (Details) kr in Millions, $ in Millions	1 Months Ended		3 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 SEK (kr)	Mar. 31, 2025 USD ($)	Mar. 31, 2024 USD ($)
Income Tax Disclosure [Abstract]
Income tax provision			$ 50	$ 43
Effective tax rate			23.10%	21.80%
Assessment for tax, penalties and interest	$ 84	kr 837

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
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+ Details

Restructuring Charges (Restructuring Charges) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Restructuring Cost and Impairment Charge
Severance and other charges	$ 18	$ 9
Asset impairment	0	1
Reversal of restructuring accruals	(1)	(1)
Total restructuring costs	17	9
Asset impairment charges	4	1
Total restructuring and asset impairment charges	21	10
Corporate and other
Restructuring Cost and Impairment Charge
Total restructuring costs	0	2
Water Infrastructure
Restructuring Cost and Impairment Charge
Asset impairment charges	1
Water Infrastructure \| Operating Segments
Restructuring Cost and Impairment Charge
Total restructuring costs	13	5
Applied Water \| Operating Segments
Restructuring Cost and Impairment Charge
Total restructuring costs	3	1
Measurement and Control Solutions \| Operating Segments
Restructuring Cost and Impairment Charge
Total restructuring costs	1	0
Water Solutions and Services \| Operating Segments
Restructuring Cost and Impairment Charge
Total restructuring costs	$ 4	$ 2

Goodwill and Other Intangible Assets (Textual) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Finite-Lived Intangible Assets
Amortization expense related to finite-lived intangible assets	$ 77	$ 73
Asset Impairment Charges	4	$ 1
Water Infrastructure
Finite-Lived Intangible Assets
Asset Impairment Charges	1
Water Solutions and Services
Finite-Lived Intangible Assets
Asset Impairment Charges	$ 3

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Background and Basis of Presentation	3 Months Ended
Background and Basis of Presentation	Mar. 31, 2025
Accounting Policies [Abstract]
Background and Basis of Presentation	Background and Basis of Presentation Background Xylem Inc. (“Xylem” or the “Company”) is a leading equipment and service provider for water and wastewater applications with a broad portfolio of products and services addressing the full cycle of water, from collection, distribution and use to the return of water to the environment. Xylem operates in four segments, Water Infrastructure, Applied Water, Measurement and Control Solutions and Water Solutions and Services. See Note 19, "Segment Information," to the condensed consolidated financial statements for further segment background information. Except as otherwise indicated or unless the context otherwise requires, "Xylem," "we," "us," "our" and the "Company" refer to Xylem Inc. and its subsidiaries. Basis of Presentation The interim condensed consolidated financial statements reflect our financial position and results of operations in conformity with accounting principles generally accepted in the United States of America ("GAAP"). All intercompany transactions between our businesses have been eliminated. The unaudited interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") and, in the opinion of management, reflect all adjustments (which include normal recurring adjustments) considered necessary for a fair statement of the financial position and results of operations for the periods presented. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such SEC rules. We believe that the disclosures made are adequate to make the information presented not misleading. We consistently applied the accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2024 ("2024 Annual Report") in preparing these unaudited condensed consolidated financial statements. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes included in our 2024 Annual Report. Certain prior year amounts have been reclassified to conform to the current year presentation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Estimates are revised as additional information becomes available. Estimates and assumptions are used for, but not limited to, valuation results associated with purchase accounting, post-retirement obligations and assets, revenue recognition, income taxes, valuation of intangible assets, goodwill and indefinite-lived intangible impairment testing and contingent liabilities. Actual results could differ from these estimates. Our quarterly financial periods end on the Saturday closest to the last day of the calendar quarter, except for the fourth quarter which ends on December 31. For ease of presentation, the condensed consolidated financial statements included herein are described as ending on the last day of the calendar quarter.

Capital Stock	3 Months Ended
Capital Stock	Mar. 31, 2025
Equity [Abstract]
Capital Stock	Capital Stock For the three months ended March 31, 2025 and March 31, 2024, the Company repurchased less than 0.1 million shares of common stock for $13 million and approximately 0.1 million shares of common stock for $15 million, respectively. Repurchases may include share repurchase programs approved by the Board of Directors and repurchases in relation to settlement of employee tax withholding obligations due as a result of the vesting of restricted stock units. The details of repurchases by each program are as follows: On August 24, 2015, our Board of Directors authorized the repurchase of up to $500 million in shares with no expiration date. The program's objective is to deploy our capital in a manner that benefits our stockholders and maintains our focus on growth. There were no shares repurchased under the program for the three months ended March 31, 2025 and March 31, 2024. There are up to $182 million in shares that may still be purchased under this plan as of March 31, 2025. Aside from the aforementioned repurchase program, we repurchased less than 0.1 million shares and approximately 0.1 million shares for approximately $13 million and $15 million for the three months ended March 31, 2025 and 2024, respectively, in relation to settlement of employee tax withholding obligations due as a result of the vesting of restricted stock units.

Share-Based Compensation Plans Share-Based Compensation Plans (Summary of ROIC Performance Share Unit Grants) (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Summary of performance share activity
Adjustment for Condition Achieved (in shares) \| shares	19
Vested (in shares) \| shares	(44)
Weighted Average Grant Date Fair Value Per Share
Adjustment for Condition Achieved (in usd per share) \| $ / shares	$ 86.77
Vested (in usd per share) \| $ / shares	$ 86.77
Return on Invested Capital Performance-Based Shares \| Performance share units
Summary of performance share activity
Outstanding, beginning of period (in shares) \| shares	77
Adjustment for Condition Achieved (in shares) \| shares	19
Vested (in shares) \| shares	(44)
Forfeited (in shares) \| shares	(1)
Outstanding, end of period (in shares) \| shares	51
Weighted Average Grant Date Fair Value Per Share
Outstanding, beginning of period (in usd per share) \| $ / shares	$ 105.02
Adjustment for Condition Achieved (in usd per share) \| $ / shares	86.77
Vested (in usd per share) \| $ / shares	86.77
Forfeited (in usd per share) \| $ / shares	109.08
Outstanding, end of period (in usd per share) \| $ / shares	$ 113.96

Earnings Per Share

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Earnings Per Share

The following is a reconciliation of the shares used in calculating basic and diluted net earnings per share:


	Three Months Ended
	March 31,
	2025		2024
Net income (in millions)	$	169	$	153
Shares (in thousands):
Weighted average common shares outstanding	243,084		241,826
Add: Participating securities (a)	21		28
Weighted average common shares outstanding — Basic	243,105		241,854
Plus incremental shares from assumed conversions: (b)
Dilutive effect of stock options	352		727
Dilutive effect of restricted stock units and performance share units	323		440
Weighted average common shares outstanding — Diluted	243,780		243,021
Basic earnings per share	$	0.69	$	0.63
Diluted earnings per share	$	0.69	$	0.63


	Three Months Ended
	March 31,
(in thousands)	2025	2024
Stock options	866	1,254
Restricted stock units	339	428
Performance share units	233	342

Equity

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Equity

The following table shows the changes in stockholders' equity for the three months ended March 31, 2025:


(in millions)	Common Stock		Capital in Excess of Par Value		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock		Non-Controlling Interest		Total
Balance at January 1, 2025	$	3	$	8,687	$	3,140	$	(435)	$	(753)	$	5	$	10,647


Net income	—		—		169		—		—		—		169
Other comprehensive income, net	—		—		—		98		—		—		98
Other activity	—		—		—		—		—		1		1
Dividends declared ($0.40 per share)	—		—		(98)		—		—		—		(98)
Stock incentive plan activity	—		18		—		—		(13)		—		5

Balance at March 31, 2025	$	3	$	8,705	$	3,211	$	(337)	$	(766)	$	6	$	10,822

The following table shows the changes in stockholders' equity for the three months ended March 31, 2024:


	Common Stock		Capital in Excess of Par Value		Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Treasury Stock		Non-Controlling Interest		Total
Balance at January 1, 2024	$	3	$	8,564	$	2,601	$	(269)	$	(733)	$	10	$	10,176
Net income	—		—		153		—		—		—		153
Other comprehensive loss, net	—		—		—		(76)		—		—		(76)
Other activity	—		—		—		—		—		(2)		(2)
Dividends declared ($0.36 per share)	—		—		(87)		—		—		—		(87)
Stock incentive plan activity	—		54		—		—		(15)		—		39

Balance at March 31, 2024	$	3	$	8,618	$	2,667	$	(345)	$	(748)	$	8	$	10,203

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Credit Facilities and Debt (Textuals) (Details)	May 09, 2023	Mar. 01, 2023 USD ($) Rate	Jun. 26, 2020 USD ($)	Sep. 20, 2011	Mar. 31, 2025 USD ($)	Jun. 03, 2019 EUR (€)	Mar. 05, 2019 USD ($)	Jan. 26, 2018 USD ($)	Oct. 11, 2016 USD ($)
Senior Notes
Debt Instrument
Redemption price percentage				101.00%
Line of Credit
Debt Instrument
Face amount								$ 540,000,000
Senior Notes Due 2028
Debt Instrument
Interest rate					1.95%
Senior Notes Due 2028 \| Senior Notes
Debt Instrument
Interest rate			1.95%
Face amount			$ 500,000,000
Senior Notes Due 2031
Debt Instrument
Interest rate					2.25%
Senior Notes Due 2031 \| Senior Notes
Debt Instrument
Interest rate			2.25%
Face amount			$ 500,000,000
Green Bond \| Senior Notes
Debt Instrument
Redemption price percentage			101.00%
Senior Notes due 2026
Debt Instrument
Interest rate					3.25%
Senior Notes due 2026 \| Senior Notes
Debt Instrument
Interest rate									3.25%
Face amount									$ 500,000,000
Senior Notes due 2046
Debt Instrument
Interest rate					4.375%
Senior Notes due 2046 \| Senior Notes
Debt Instrument
Interest rate									4.375%
Face amount									$ 400,000,000
2019 Five-Year Revolving Credit Facility \| Revolving Credit Facility
Debt Instrument
Debt instrument aggregate principal amount		$ 1,000,000,000
Maximum permitted increases in Credit Facility borrowing base							$ 1,000,000,000
Line of Credit Facility, Remaining Borrowing Capacity					$ 1,000,000,000
Five Year Revolving Credit Facility 2023 \| Revolving Credit Facility
Debt Instrument
Term of debt		5 years
Debt instrument aggregate principal amount		$ 1,000,000,000
Permitted increases in Credit Facility borrowing base		300,000,000
Maximum permitted increases in Credit Facility borrowing base		$ 1,300,000,000
Maximum leverage ratio, after acquisition \| Rate		400.00%
Maximum leverage ratio, before acquisition \| Rate		350.00%
ING Bank Term Loan Facility \| Line of Credit
Debt Instrument
Term of debt	24 months
US Dollar Commercial Paper Program
Debt Instrument
Face amount					$ 600,000,000
Euro Commercial Paper Program
Debt Instrument
Face amount \| €						€ 500,000,000

Recently Issued Accounting Pronouncements (Textuals) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Dec. 31, 2024
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Termination notice	30 days
Outstanding balance under supplier finance programs	$ 264	$ 250
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Invoice payment terms	45 days
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Invoice payment terms	180 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 97: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 98: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 99: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

Reference 100: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476166/350-60-65-1

+ Details