0001524472false00015244722024-10-312024-10-31
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 31, 2024
XYLEM INC.
(Exact name of registrant as specified in its charter)
Indiana001-3522945-2080495
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
301 Water Street SE20003
WashingtonDC
(Address of principal executive offices)(Zip Code)
(202) 869-9150
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)

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

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


Item 2.02Results of Operations and Financial Condition
On October 31, 2024, Xylem Inc. issued a press release announcing its financial results for the quarter ended September 30, 2024. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated by reference herein.
This information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01Financial Statements and Exhibits
(d) Exhibits.
Exhibit
   No.
Description
Press Release issued by Xylem Inc. on October 31, 2024.
104.0The cover page from Xylem Inc.'s Form 8-K, formatted in Inline XBRL.




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
XYLEM INC.
Date: October 31, 2024By:/s/ William K. Grogan
William K. Grogan
Senior Vice President & Chief Financial Officer
(Authorized Officer of Registrant)




Exhibit 99.1
imagea.jpg

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

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

Xylem Reports Third Quarter 2024 Results and Narrows Full-Year Guidance

•Revenue of $2.1 billion, up 1% on a reported and organic basis
•Earnings per share of $0.89, up 41%; $1.11 on an adjusted basis, up 12%
•Updated full-year revenue guidance of $8.5 billion, up approximately 15% YoY, with organic revenue growth of ~5%
•Narrowing full-year adjusted EPS guidance to $4.22 to $4.24, from $4.18 to $4.28

WASHINGTON, D.C., (October 31, 2024) – Xylem Inc. (NYSE: XYL), a leading global water technology company that empowers customers and communities to build a more water-secure world, today reported third-quarter results. The Company’s total revenue was $2.1 billion, up one percent on a reported and organic basis, and third-quarter earnings per share were up 41 percent on a reported basis and 12 percent on an adjusted basis. Orders grew 8 percent on a reported and organic basis.

“The team delivered strong results in the quarter, with earnings at the high end of guidance, and margin expansion beating our expectations,” said Matthew Pine, Xylem’s President and CEO. “Demand remained resilient, reflected in robust orders growth in all segments, and a healthy book-to-bill. Moderated organic revenue growth in the quarter was driven largely by project timing.”

“Outperformance on margin and earnings was further reinforced by momentum in our integration of Evoqua and by initial impacts from our broader simplification efforts,” Pine continued. “Evoqua integration is ahead of schedule and synergy capture continues to accelerate, giving us confidence in closing the year above target. As a result, we are narrowing our full-year earnings guidance, with continuing focus on sustainable, high-quality earnings and profitable growth.”

Net income was $217 million, or $0.89 per share. Net income margin increased 300 basis points to 10.3 percent. These results are driven by strong operational performance. Adjusted net income was $269 million, or $1.11 per share, which excludes the impacts of amortization of acquired intangible assets, restructuring and realignment costs, gain/loss from sale of businesses, special charges, and tax-related special items.

Third-quarter adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) margin was 21.2 percent, ­reflecting a year-over-year increase of 140 basis points. Productivity savings and price drove the margin expansion, exceeding the impact of inflation, strategic investments and mix.




1

Outlook

Xylem expects full-year 2024 revenue of $8.5 billion, up approximately 15 percent on a reported basis and up approximately 5 percent on an organic basis.

Full-year 2024 adjusted EBITDA margin is expected to be approximately 20.5 percent. This results in adjusted earnings per share of $4.22 to $4.24 from the previous range of $4.18 to $4.28. Full-year free cash flow conversion to net income is expected to be at least 120 percent.

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

Supplemental information on Xylem’s third-quarter earnings and reconciliations for certain non-GAAP items is posted at www.xylem.com/investors.

###
About Xylem

Xylem (XYL) is a Fortune 500 global water solutions company that empowers customers and communities to build a more water-secure world. Our 23,000 diverse employees delivered combined pro forma revenue of $8.1 billion in 2023, optimizing water and resource management with innovation and expertise. Join us at www.xylem.com and Let’s Solve Water.

Forward-Looking Statements

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

Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, many of which are beyond our control. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in or implied by our forward-looking statements include, among others, the following: the impact of overall industry and general economic conditions, including industrial, governmental, and public and private sector spending, interest rates, inflation and related monetary policy by governments in response to inflation, and the strength of the residential and commercial real estate markets, on economic activity and our operations; geopolitical events, including the ongoing and possible escalation of the conflicts involving Russia and Ukraine, and the Middle East, as well as regulatory, economic and other risks associated with our global sales and operations, including those related to domestic content requirements applicable to projects receiving governmental funding; manufacturing and operating cost increases due to macroeconomic conditions, including inflation, energy supply, supply chain shortages, logistics challenges, tight labor markets, prevailing price changes, tariffs and other factors; demand for our products, disruption, competition or pricing pressures in the markets we serve; cybersecurity incidents or other disruptions of information technology systems on which we rely, or involving our connected products and services; lack of availability or delays in receiving parts and raw materials from our supply chain, including electronic
2

components (in particular, semiconductors); disruptions in operations at our facilities or that of third parties upon which we rely; uncertainty related to the realization of the benefits and synergies from our acquisition of Evoqua Water Technologies Corp.; safe and compliant treatment and handling of water, wastewater and hazardous materials; failure to successfully execute large projects, including with respect to meeting performance guarantees and customers’ budgets, timelines and safety requirements; our ability to retain and attract leadership and other diverse and key talent, as well as competition for overall talent and labor; defects, security, warranty and liability claims, and recalls related to our products; uncertainty around restructuring and realignment actions and related costs and savings; our ability to execute strategic investments for growth, including related to acquisitions and divestitures; availability, regulation or interference with radio spectrum used by certain of our products; volatility in served markets or impacts on our business and operations due to weather conditions, including the effects of climate change; risks related to our sustainability commitments and related disclosures; fluctuations in foreign currency exchange rates; difficulty predicting our financial results; risk of future impairments to goodwill and other intangible assets; changes in our effective tax rates or tax expenses; financial market risks related to our pension and other defined benefit plans; failure to comply with, or changes in, laws or regulations, including those pertaining to our business conduct, operations, products and services, including anti-corruption, data privacy and security, trade, competition, the environment, climate change and health and safety; legal, governmental or regulatory claims, investigations or proceedings and associated contingent liabilities; matters related to intellectual property infringement or expiration of rights; and other factors set forth under “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 ("2023 Annual Report") and in subsequent filings we make with the Securities and Exchange Commission (“SEC”).

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


3

XYLEM INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED INCOME STATEMENTS (Unaudited) (in millions, except per share data)
Three MonthsNine Months
For the periods ended March 31,2024202320242023
Revenue from products$1,744 $1,720 $5,236 $4,535 
Revenue from services360 356 1,070 711 
Revenue2,104 2,076 6,306 5,246 
Cost of revenue from products1,047 1,043 3,147 2,730 
Cost of revenue from services273 269 804 555 
Cost of revenue1,320 1,312 3,951 3,285 
Gross profit784 764 2,355 1,961 
Selling, general and administrative expenses445 491 1,404 1,291 
Research and development expenses55 61 172 172 
Restructuring and asset impairment charges4 21 37 57 
Operating income280 191 742 441 
Interest expense10 14 35 35 
Other non-operating income, net1 8 11 19 
(Loss) on sale of business(2)— (6)— 
Income before taxes269 185 712 425 
Income tax expense52 33 148 82 
Net income$217 $152 $564 $343 
Earnings per share:
Basic$0.89 $0.63 $2.33 $1.64 
Diluted$0.89 $0.63 $2.32 $1.63 
Weighted average number of shares:
Basic242.9 240.9 242.5 208.9 
Diluted243.8 242.2 243.4 210.1 


4

XYLEM INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(in millions, except per share amounts)
September 30,
2024		December 31,
2023
  
ASSETS
Current assets:
Cash and cash equivalents$989 $1,019 
Receivables, less allowances for discounts, returns and credit losses of $60 and $56 in 2024 and 2023, respectively
1,707 1,617 
Inventories1,091 1,018 
Prepaid and other current assets226 230 
Total current assets4,013 3,884 
Property, plant and equipment, net1,158 1,169 
Goodwill7,593 7,587 
Other intangible assets, net2,326 2,529 
Other non-current assets956 943 
Total assets$16,046 $16,112 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$930 $968 
Accrued and other current liabilities1,105 1,221 
Short-term borrowings and current maturities of long-term debt17 16 
Total current liabilities2,052 2,205 
Long-term debt1,977 2,268 
Accrued post-retirement benefits332 344 
Deferred income tax liabilities535 557 
Other non-current accrued liabilities550 562 
Total liabilities5,446 5,936 
Stockholders’ equity:
Common Stock – par value $0.01 per share:
Authorized 750.0 shares, issued 259.2 shares and 257.6 shares in 2024 and 2023, respectively
3 3 
Capital in excess of par value8,673 8,564 
Retained earnings2,902 2,601 
Treasury stock – at cost 16.2 shares and 16.0 shares in 2024 and 2023, respectively
(753)(733)
Accumulated other comprehensive loss(232)(269)
Total stockholders’ equity10,593 10,166 
Non-controlling interests7 10 
Total equity10,600 10,176 
Total liabilities and stockholders’ equity$16,046 $16,112 

5

XYLEM INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(in millions)
For the periods ended September 30,20242023
Operating Activities
Net income$564 $343 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation191 132 
Amortization229 167 
Share-based compensation43 45 
Restructuring and asset impairment charges37 57 
Loss from sale of business6 — 
Other, net(4)(20)
Payments for restructuring(24)(12)
Changes in assets and liabilities (net of acquisitions):
Changes in receivables(101)(142)
Changes in inventories(88)(41)
Changes in accounts payable(31)15 
Changes in accrued and deferred taxes(11)(77)
Other, net(123)(85)
Net Cash – Operating activities688 382 
Investing Activities
Capital expenditures(221)(177)
Acquisition of businesses, net of cash acquired (5)(476)
Proceeds from sale of business11 103 
Proceeds from the sale of property, plant and equipment3 2 
Cash received from investments5 1 
Cash paid for investments(8)(1)
Cash paid for equity investments(4)(58)
Cash received from interest rate swaps— 38 
Cash received from cross-currency swaps25 25 
Other, net1 4 
Net Cash – Investing activities(193)(539)
Financing Activities
Short-term debt issued, net— 1 
Short-term debt repaid(268)— 
Long-term debt issued, net— 275 
   Long-term debt repaid(13)(155)
Repurchase of common stock(19)(10)
Proceeds from exercise of employee stock options66 45 
Dividends paid(263)(219)
Other, net(23)(8)
Net Cash – Financing activities(520)(71)
Effect of exchange rate changes on cash(5)(11)
Net change in cash and cash equivalents(30)(239)
Cash and cash equivalents at beginning of year1,019 944 
Cash and cash equivalents at end of period$989 $705 
Supplemental disclosure of cash flow information:
Cash paid during the period for:
Interest$49 $43 
Income taxes (net of refunds received)$160 $159 
6

Xylem Inc. Non-GAAP Measures
Management reviews key performance indicators including revenue, gross margins, segment operating income and margins, orders growth, working capital and backlog, among others. In addition, we consider certain non-GAAP (or "adjusted") measures to be useful to management and investors evaluating our operating performance for the periods presented, and to provide a tool for evaluating our ongoing operations, liquidity and management of assets. This information can assist investors in assessing our financial performance and measures our ability to generate capital for deployment among competing strategic alternatives and initiatives, including but not limited to, dividends, acquisitions, share repurchases and debt repayment. Excluding revenue, Xylem provides guidance only on a non-GAAP basis due to the inherent difficulty in forecasting certain amounts that would be included in GAAP earnings, such as discrete tax items, without unreasonable effort. These adjusted metrics are consistent with how management views our business and are used to make financial, operating and planning decisions. These metrics, however, are not measures of financial performance under GAAP and should not be considered a substitute for revenue, operating income, net income, earnings per share (basic and diluted) or net cash from operating activities as determined in accordance with GAAP. We consider the following items to represent the non-GAAP measures that we consider to be key performance indicators, as well as the related reconciling items to the most directly comparable measure calculated and presented in accordance with GAAP. The non-GAAP measures may not be comparable to similarly titled measures reported by other companies.
“Organic revenue” and “Organic orders” defined as revenue and orders, respectively, excluding the impact of fluctuations in foreign currency translation and contributions from acquisitions and divestitures. Divestitures include sales or discontinuance of insignificant portions of our business that did not meet the criteria for classification as a discontinued operation. The period-over-period change resulting from foreign currency translation impacts is determined by translating current period and prior period activity using the same currency conversion rate.
“Constant currency” defined as financial results adjusted for foreign currency translation impacts by translating current period and prior period activity using the same currency conversion rate. This approach is used for countries whose functional currency is not the U.S. dollar.
“EBITDA” defined as earnings before interest, taxes, depreciation and amortization expense. “Adjusted EBITDA” and "Adjusted Segment EBITDA" reflect the adjustments to EBITDA and segment EBITDA, respectively, to exclude share-based compensation charges, restructuring and realignment costs, gain or loss from sale of businesses and special charges.
“Adjusted EBITDA Margin” and “Adjusted Segment EBITDA Margin” defined as adjusted EBITDA and adjusted segment EBITDA divided by total revenue and segment revenue, respectively.
“Adjusted Operating Income”, “Adjusted Segment Operating Income”, “Adjusted Net Income” and “Adjusted EPS” defined as operating income, segment operating income, net income and earnings per share, adjusted to exclude restructuring and realignment costs, amortization of acquired intangible assets, gain or loss from sale of businesses, special charges and tax-related special items, as applicable.
“Adjusted Operating Margin” and “Adjusted Segment Operating Margin” defined as adjusted operating income and adjusted segment operating income divided by total revenue and segment revenue, respectively.
“Free Cash Flow” defined as net cash from operating activities, as reported in the Statement of Cash Flows, less capital expenditures, and “Free Cash Flow Conversion” defined as Free Cash Flows divided by net income, excluding the gain on sale of businesses and other non-recurring, significant non-cash impacts, such as non-cash impairment charges and significant deferred tax items. Our definitions of "free cash flow" and "free cash flow conversion" do not consider certain non-discretionary cash payments, such as debt.
"Adjusted Free Cash Flow" defined as free cash flow adjusted for significant cash items for which the corresponding income statement impact does not occur within the same fiscal year.
“Realignment costs” defined as costs not included in restructuring costs that are incurred as part of actions taken to reposition our business, including items such as professional fees, severance, relocation, travel, facility set-up and other costs.
“Special charges” defined as non-recurring costs incurred by the Company, such as those related to acquisitions and integrations, divestitures and non-cash impairment charges.
“Tax-related special items” defined as tax items, such as tax return versus tax provision adjustments, tax exam impacts, tax law change impacts, excess tax benefits/losses and other discrete tax adjustments.
7

Xylem Inc. Non-GAAP Reconciliation
Reported vs. Organic & Constant Currency Orders
($ Millions)
(As Reported - GAAP)(As Adjusted - Organic)Constant 
Currency
(A)(B)(C)(D)(E)=B+C+D(F) = E/A(G) = (E - C) / A
OrdersOrdersChange 2024 v. 2023% Change 2024 v. 2023Book-to-BillAcquisitions/
Divestitures		FX
Impact		Change
Adj.
2024 v. 2023		% Change
Adj. 2024 v. 2023
20242023
Nine Months Ended September 30
Xylem Inc.6,534 5,457 1,077 20 %104 %(886)6 197 4 %20 %
Water Infrastructure2,036 1,680 356 21 %111 %(243)(1)112 7 %21 %
Applied Water1,382 1,350 32 2 %103 %— 3 35 3 %3 %
Measurement & Control Solutions1,199 1,228 (29)(2)%86 %— (1)(30)(2)%(2)%
Water Solutions & Services1,917 1,199 718 60 %110 %(643)5 80 7 %60 %
Quarter Ended September 30
Xylem Inc.2,201 2,031 170 8 %105 %— (4)166 8 %8 %
Water Infrastructure700 656 44 7 %112 %— (4)40 6 %6 %
Applied Water437 422 15 4 %98 %— — 15 4 %4 %
Measurement and Control Solutions386 343 43 13 %84 %— (2)41 12 %12 %
Water Solutions and Services678 610 68 11 %118 %— 2 70 11 %11 %
Quarter Ended June 30
Xylem Inc.2,087 1,856 231 12 %96 %(265)11 (23)(1)%13 %
Water Infrastructure690 563 127 23 %109 %(89)5 43 8 %23 %
Applied Water465 445 20 4 %102 %— 3 23 5 %5 %
Measurement and Control Solutions384 470 (86)(18)%80 %— 1 (85)(18)%(18)%
Water Solutions and Services548 378 170 45 %91 %(176)2 (4)(1)%46 %
Quarter Ended March 31
Xylem Inc.2,246 1,570 676 43 %110 %(621)(1)54 3 %43 %
Water Infrastructure646 461 185 40 %113 %(154)(2)29 6 %40 %
Applied Water480 483 (3)(1)%110 %— — (3)(1)%(1)%
Measurement and Control Solutions429 415 14 3 %93 %— — 14 3 %3 %
Water Solutions and Services691 211 480 227 %123 %(467)1 14 7 %228 %
8


Xylem Inc. Non-GAAP Reconciliation
Reported vs. Organic & Constant Currency Revenue
($ Millions)
(As Reported - GAAP)(As Adjusted - Organic)Constant 
Currency
(A)(B)(C)(D)(E) = B+C+D(F) = E/A(G) = (E - C) / A
RevenueRevenueChange 2024 v. 2023% Change 2024 v. 2023Acquisitions /
Divestitures		FX
Impact		Change Adj. 2024 v. 2023% Change Adj. 2024 v. 2023
20242023
Nine Months Ended September 30
Xylem Inc.6,306 5,246 1,060 20 %(782)5 283 5 %20 %
Water Infrastructure1,828 1,541 287 19 %(221)— 66 4 %19 %
Applied Water1,339 1,396 (57)(4)%— 1 (56)(4)%(4)%
Measurement and Control Solutions1,402 1,175 227 19 %— — 227 19 %19 %
Water Solutions and Services1,737 1,134 603 53 %(561)4 46 4 %54 %
Quarter Ended September 30
Xylem Inc.2,104 2,076 28 1 %— (6)22 1 %1 %
Water Infrastructure623 612 11 2 %— (5)6 1 %1 %
Applied Water447 465 (18)(4)%— (2)(20)(4)%(4)%
Measurement and Control Solutions458 413 45 11 %— (1)44 11 %11 %
Water Solutions and Services576 586 (10)(2)%— 2 (8)(1)%(1)%
Quarter Ended June 30
Xylem Inc.2,169 1,722 447 26 %(302)13 158 9 %27 %
Water Infrastructure631 519 112 22 %(84)6 34 7 %23 %
Applied Water456 478 (22)(5)%— 4 (18)(4)%(4)%
Measurement and Control Solutions482 384 98 26 %— 2 100 26 %26 %
Water Solutions and Services600 341 259 76 %(218)1 42 12 %76 %
Quarter Ended March 31
Xylem Inc.2,033 1,448 585 40 %(480)(2)103 7 %40 %
Water Infrastructure574 410 164 40 %(137)(1)26 6 %40 %
Applied Water436 453 (17)(4)%— (1)(18)(4)%(4)%
Measurement and Control Solutions462 378 84 22 %— (1)83 22 %22 %
Water Solutions and Services561 207 354 171 %(343)1 12 6 %171 %
9

Xylem Inc. Non-GAAP Reconciliation
Adjusted Diluted EPS
($ Millions, except per share amounts)
Q3 2024Q3 2023
As ReportedAdjustmentsAdjustedAs ReportedAdjustmentsAdjusted
Total Revenue2,104 — 2,104 2,076 — 2,076 
Operating Income280 70  a 350 191 124  a 315 
Operating Margin13.3 %16.6 %9.2 %15.2 %
Interest Expense(10)— (10)(14)— (14)
Other Non-Operating Income (Expense)1 — 1 8 — 8 
Gain/(Loss) from Sale of Business(2)2 b— — — — 
Income before Taxes269 72 341 185 124 309 
Provision for Income Taxes(52)(20)c(72)(33)(36)c(69)
Net Income 217 52 269 152 88 240 
Diluted Shares243.8243.8 242.2 242.2 
Diluted EPS$0.89 $0.22 $1.11 $0.63 $0.36 $0.99 
aQuarter-to-date: Restructuring & realignment costs: 2024 - $11 million and 2023 - $34 million                                                
Special charges: 2024 - $6 million of acquisition & integration cost and $1 million of other special charges; 2023 - $23 million of acquisition & integration related costs and $1 million of asset impairment charges                                            
Purchase accounting intangible amortization: 2024 - $52 million and 2023 - $66 million
bGain/Loss from sale of business as per income statement for all periods presented
cQuarter-to-date: 2024 - Net tax impact on pre-tax adjustments (note a and b) of $17 million and other tax special items of $3 million; 2023 - Net tax impact on pre-tax adjustments (note a) of $28 million and other tax special items of $8 million
10

Xylem Inc. Non-GAAP Reconciliation
EBITDA and Adjusted EBITDA by Quarter
($ Millions)
2024
Q1Q2Q3Q4Total
Net Income153 194 217 564 
Net Income Margin7.5 %8.9 %10.3 %8.9 %
Depreciation61 62 68 191 
Amortization73 83 73 229 
Interest Expense (Income), net7 6 5 18 
Income Tax Expense43 53 52 148 
EBITDA337 398 415 1,150 
Share-based Compensation18 13 12 43 
Restructuring & Realignment15 29 11 55 
Special Charges16 13 7 36 
Loss/(Gain) from sale of business5 (1)2 6 
Adjusted EBITDA391 452 447 1,290 
Revenue2,033 2,169 2,104 6,306 
Adjusted EBITDA Margin19.2 %20.8 %21.2 %20.5 %
2023
Q1Q2Q3Q4Total
Net Income99 92 152 266 609 
Net Income Margin6.8 %5.3 %7.3 %12.6 %8.3 %
Depreciation28 41 63 61 193 
Amortization32 51 84 76 243 
Interest Expense (Income), net2 5 6 8 21 
Income Tax Expense27 22 33 (56)26 
EBITDA188 211 338 355 1,092 
Share-based Compensation12 15 18 15 60 
Restructuring & Realignment11 36 33 23 103 
Special Charges25 67 22 22 136 
Loss/(Gain) from sale of business— — — 1 1 
Adjusted EBITDA236 329 411 416 1,392 
Revenue1,448 1,722 2,076 2,118 7,364 
Adjusted EBITDA Margin16.3 %19.1 %19.8 %19.6 %18.9 %













11
v3.24.3
Cover Page
Oct. 31, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Oct. 31, 2024
Entity Registrant Name XYLEM INC.
Entity Incorporation, State or Country Code IN
Entity File Number 001-35229
Entity Tax Identification Number 45-2080495
Entity Address, 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
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0001524472
Amendment Flag false
Entity Address, Address Line One 301 Water Street SE
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol XYL
Security Exchange Name NYSE
Xylem (NYSE:XYL)
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