Xylem (XYL) 10-Q30 Jul 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Jul. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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		242,892,884
Entity Shell Company	false
Entity Central Index Key	0001524472
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
Recently Issued Accounting Pronouncements	Jun. 30, 2024
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, "Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures." This guidance requires disclosure information about significant segment expenses. The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The standard is required to be applied on a retrospective basis to all periods presented in the consolidated financial statements. The Company is currently evaluating the impacts of the guidance on our disclosures in future periods. In December 2023, the FASB issued ASU No. 2023-09, "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. Recently Adopted Pronouncements In September 2022, the FASB issued ASU 2022-04, " Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. " This guidance requires disclosure of the key terms of outstanding supplier finance programs and a rollforward of the related obligations. The standard does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. The ASU became effective January 1, 2023, and the rollforward requirement became effective January 1, 2024. Refer to Note 11, "Current Liabilities" for the disclosures related to our adoption of the standard.

Condensed Consolidated Income S

Condensed Consolidated Income Statements (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue	$ 2,169	$ 1,722	$ 4,202	$ 3,170
Cost of revenue	1,350	1,071	2,631	1,973
Gross profit	819	651	1,571	1,197
Selling, general and administrative expenses	485	446	959	800
Research and development expenses	58	58	117	111
Restructuring and asset impairment charges	23	28	33	36
Operating income	253	119	462	250
Interest expense	11	12	25	21
Other non-operating income, net	4	7	10	11
Gain/(Loss) on sale of businesses	1	0	(4)	0
Income before taxes	247	114	443	240
Income tax expense	53	22	96	49
Net income	$ 194	$ 92	$ 347	$ 191
Earnings per share:
Basic (usd per share)	$ 0.80	$ 0.45	$ 1.43	$ 0.99
Diluted (usd per share)	$ 0.80	$ 0.45	$ 1.43	$ 0.98
Weighted average number of shares:
Basic (in shares)	242,572	205,539	242,213	192,967
Diluted (in shares)	243,538	206,740	243,279	194,029
Revenue from products
Revenue	$ 1,802	$ 1,501	$ 3,492	$ 2,809
Cost of revenue	1,079	916	2,100	1,707
Revenue from services
Revenue	367	221	710	361
Cost of revenue	$ 271	$ 155	$ 531	$ 266

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 194	$ 92	$ 347	$ 191
Other comprehensive income (loss), before tax:
Foreign currency translation adjustment	6	(38)	(59)	(16)
Net change in derivative hedge agreements:
Unrealized gain (loss)	0	(3)	(3)	1
Amount of (gain) loss reclassified into net income	(1)	(1)	0	4
Net change in post-retirement benefit plans:
Amortization of prior service credit	0	(1)	0	(1)
Amortization of actuarial (gain) loss into net income	0	0	0	(1)
Foreign currency translation adjustment	0	(1)	2	(1)
Other comprehensive income (loss), before tax	5	(44)	(60)	(14)
Income tax (benefit) expense related to items of other comprehensive income (loss)	5	(9)	16	(14)
Other comprehensive income (loss), net of tax	0	(35)	(76)	0
Comprehensive income	$ 194	$ 57	$ 271	$ 191

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 815	$ 1,019
Receivables, less allowances for discounts, returns and credit losses of $54 and $56 in 2024 and 2023, respectively	1,675	1,617
Inventories	1,057	1,018
Prepaid and other current assets	234	230
Total current assets	3,781	3,884
Property, plant and equipment, net	1,144	1,169
Goodwill	7,509	7,587
Other intangible assets, net	2,374	2,529
Other non-current assets	957	943
Total assets	15,765	16,112
Current liabilities:
Accounts payable	940	968
Accrued and other current liabilities	1,085	1,221
Short-term borrowings and current maturities of long-term debt	17	16
Total current liabilities	2,042	2,205
Long-term debt	1,981	2,268
Accrued post-retirement benefits	325	344
Deferred income tax liabilities	552	557
Other non-current accrued liabilities	517	562
Total liabilities	5,417	5,936
Commitments and contingencies (Note 18)
Stockholders’ equity:
Authorized 750.0 shares, issued 259.1 shares and 257.6 shares in 2024 and 2023, respectively	3	3
Capital in excess of par value	8,660	8,564
Retained earnings	2,774	2,601
Treasury stock – at cost 16.2 shares and 16.0 shares in 2024 and 2023, respectively	(751)	(733)
Accumulated other comprehensive loss	(345)	(269)
Total stockholders’ equity	10,341	10,166
Non-controlling interests	7	10
Total equity	10,348	10,176
Total liabilities and stockholders’ equity	$ 15,765	$ 16,112

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowances for discounts, returns and credit losses	$ 54	$ 56
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	750,000,000	750,000,000
Common Stock, shares issued	259,100,000	257,600,000
Treasury stock, shares	16,200,000	16,000,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Activities
Net income	$ 347	$ 191
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	123	69
Amortization	156	83
Share-based compensation	31	27
Restructuring and asset impairment charges	33	36
Gain/(Loss) on sale of businesses	(4)	0
Other, net	(4)	(5)
Payments for restructuring	(18)	(9)
Changes in assets and liabilities (net of acquisitions):
Changes in receivables	(84)	(122)
Changes in inventories	(75)	(57)
Changes in accounts payable	(2)	36
Changes in accrued and deferred taxes	(14)	(86)
Other, net	(120)	(154)
Net Cash – Operating activities	377	9
Investing Activities
Capital expenditures	(147)	(103)
Acquisitions of businesses, net of cash acquired	(5)	(476)
Proceeds from sale of business	11	91
Proceeds from the sale of property, plant and equipment	3	0
Cash received from investments	4	0
Cash paid for investments	(7)	0
Cash paid for equity investments	(2)	(56)
Cash received from interest rate swaps	0	38
Cash received from cross-currency swaps	14	14
Other, net	1	3
Net Cash – Investing activities	(128)	(489)
Financing Activities
Short-term debt issued, net	0	74
Short-term debt repaid	268	0
Long-term debt issued, net	0	275
Long-term debt repaid	(9)	(1)
Repurchase of common stock	(18)	(9)
Proceeds from exercise of employee stock options	63	40
Dividends paid	(175)	(139)
Other, net	(12)	(5)
Net Cash – Financing activities	(419)	235
Effect of exchange rate changes on cash	(34)	9
Net change in cash and cash equivalents	(204)	(236)
Cash and cash equivalents at beginning of year	1,019	944
Cash and cash equivalents at end of period	815	708
Cash paid during the period for:
Interest	36	30
Income taxes (net of refunds received)	$ 110	$ 135

Background and Basis of Present

Background and Basis of Presentation	6 Months Ended
Background and Basis of Presentation	Jun. 30, 2024
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. Acquisition of Evoqua On May 24, 2023, Xylem completed the acquisition of Evoqua Water Technologies Corp. (“Evoqua”). Refer to Note 3, "Acquisitions and Divestitures," for additional information. 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, 2023 ("2023 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 2023 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. The Company announced a change to its reportable segments effective January 1, 2024, and as a result, is now reporting the financial position and results of operations of its former Integrated Solutions and Services segment together with the dewatering business, previously within our Water Infrastructure segment, and the assessment services business, previously within our Measurement and Control Solutions segment, in a new segment that is referred to as Water Solutions and Services. The Company’s Water Infrastructure reportable segment no longer includes the results of the dewatering business, and the Company’s Measurement and Control Solutions reportable segment no longer includes the results of the assessment services business. The Company's Applied Water reportable segment remains unchanged. As a result of the change, the Company has recast prior period segment amounts to align with the new segment reporting. The recast financial information reflects depreciation, amortization and share-based compensation specifically identified to the segments that were previously reported within Corporate and other and Regional selling locations as part of an overall allocation. These changes have no impact on the Company’s historical consolidated financial position or results of operations. 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.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
Acquisitions and Divestitures	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Evoqua Water Technologies Corp. On May 24, 2023, the Company completed the acquisition of 100% of the issued and outstanding shares of Evoqua, a leader in providing water and wastewater treatment solutions, offering a broad portfolio of products and services to support industrial, municipal, and recreational customers, pursuant to the Agreement and Plan of Merger dated January 22, 2023 (the “Merger Agreement”). The Merger Agreement provided that Fore Merger Sub, Inc., a wholly owned subsidiary of the Company, merge with and into Evoqua, with Evoqua surviving as a wholly owned subsidiary of Xylem (the “Merger”). Under the terms and conditions of the Merger Agreement, each share of Evoqua common stock issued and outstanding immediately prior to the effective time of the Merger (other than certain excluded shares as described in the Merger Agreement) was converted into the right to receive 0.48 (the “Exchange Ratio”) of a share of the common stock of Xylem. Upon the effectiveness of the Merger on May 24, 2023, legacy Evoqua stockholders owned approximately 25% and legacy Xylem shareholders owned approximately 75% of the combined company. The purchase price for purposes of the Merger consisted of an aggregate of $6,121 million of the Company’s common stock, $160 million in replacement equity awards, and $619 million to repay certain indebtedness of Evoqua (refer to Note 12, "Credit Facilities and Debt"). The acquisition-date fair value of the consideration totaled $6,900 million, which consisted of the following: (in millions) Fair Value of Purchase Consideration Xylem Common Stock issued to Evoqua stockholders (58,779,096 shares) $ 6,121 Estimated replacement equity awards 160 Payment of certain Evoqua indebtedness 619 Total $ 6,900 The Company has applied the acquisition method of accounting in accordance with ASC 805, Business Combinations (“ASC 805”) and recognized assets acquired and liabilities assumed at their fair value as of the date of acquisition, with the excess purchase consideration recorded to goodwill. During the second quarter of 2024, the Company finalized the purchase price allocation. The following table summarizes the acquisition date fair value of net tangible and intangible assets acquired, net of liabilities assumed from Evoqua: (in millions) Fair Value Cash and cash equivalents $ 143 Receivables(a) 430 Inventories 258 Prepaid and other current assets 78 Assets held for sale 8 Property, plant and equipment, net 508 Goodwill 4,801 Other intangible assets, net 1,769 Other non-current assets 180 Non-current assets held for sale 85 Accounts payable (210) Accrued and other current liabilities (357) Short-term borrowings and current maturities of long-term debt (166) Liabilities held for sale (1) Long-term debt (111) Other non-current accrued liabilities (120) Deferred income tax liabilities (392) Non-current liabilities held for sale (3) Total $ 6,900 (a) Including $320 million of receivables and $110 million of contract assets. Prior to finalizing the purchase price allocation during the second quarter of 2024, the fair values of the assets acquired and liabilities assumed were 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 fair value of receivables acquired is $320 million, with the gross contractual amount being $329 million. The Company expects $9 million to be uncollectible. The $4,801 million of goodwill recognized, which is not deductible for U.S. income tax purposes, is primarily attributable to synergies and economies of scale expected from combining the operations of Evoqua and Xylem as well as the assembled workforce of Evoqua. Identifiable Intangible Assets Acquired The following table summarizes key information underlying identifiable intangible assets related to the Evoqua acquisition: (in millions) Useful Life (in years) Useful Life Weighted Average (in years) Fair Value (in millions) Trademarks 6 6.0 $ 50 Proprietary technology and patents 4 - 9 7.1 120 Customer and distributor relationships 6 - 20 17.9 1,395 Backlog 1 - 10 5.4 120 Permits 8 8.0 70 Software 1 - 13 2.3 14 Total 15.4 $ 1,769 The estimate of the fair value of Evoqua’s identifiable intangible assets was determined primarily using the “income approach,” which requires a forecast of all of the expected future cash flows either through the use of the multi-period excess earnings method or the relief-from-royalty method. 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 Evoqua tradename, technology, customer relationships, backlog, and permits were valued using the multi-period excess earnings method (“MEEM”), the relief from royalty (“RFR”) method, or the with and without method, which are all forms of the income approach. Intangible assets related to Evoqua software were valued using the cost approach. • Trademarks and proprietary technology intangible assets were valued using the RFR method. The RFR method of valuation 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). • Customer and distributor relationships and backlog intangible assets were valued using the MEEM method. The MEEM method of valuation 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 Permits intangible asset was valued using the with and without method. The with and without method of valuation is an approach that considers the hypothetical impact to the projected cash flows of the business if the intangible asset was not put in place. • The Software intangible asset was valued using the cost approach. The cost approach method of valuation is an approach that relies on estimating the replacement or reproduction costs new of assets, along with factors of physical deterioration, 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. • Inventory was estimated using the comparative sales method, which quantifies the fair value of inventory based on the expected sales price of the subject inventory (when complete), reduced for: (i) all costs expected to be incurred in its completion and disposition efforts and (ii) a profit on those value-added completion and disposition costs. Stock-Based Compensation In connection with the Merger, each outstanding and issued option, restricted stock unit (“RSU”), performance stock unit (“PSU”) and cash-settled stock appreciation right (“SAR”) was converted into the Xylem equivalent, with outstanding PSUs being converted into Xylem RSUs. As a result, Xylem issued 2 million replacement equity options and 707 thousand RSU awards (of which 330 thousand were converted PSUs.) The portion of the fair value related to pre-combination services of $160 million was included in the purchase price, and $56 million will be recognized over the remaining service periods. As of June 30, 2024, the future unrecognized expense related to the outstanding options and RSUs was less than $1 million and approximately $5 million, respectively. The future unrecognized expense related to options and RSUs will be recognized over a weighted-average service period of approximately one year. SARs are immaterial. Pro Forma Financial Information The following table summarizes, on an unaudited pro forma basis, the condensed combined results of operations of the Company for the three and six months ended June 30, 2023, assuming the acquisition had occurred on January 1, 2022. (Unaudited) (Unaudited) (in millions) 2023 2023 Revenue $ 2,025 $ 3,952 Net income $ 63 $ 170 The foregoing unaudited pro forma results are for informational purposes only and are not necessarily indicative of the actual results of operations that might have occurred had the acquisition occurred on January 1, 2022, nor are they necessarily indicative of future results. The unaudited pro-forma information for all periods presented includes the following adjustments, where applicable, for business combination accounting effects resulting from the acquisition: (i) amortization of the fair value step up in inventory, (ii) additional amortization expense related to finite-lived intangible assets acquired, (iii) repayment of Evoqua’s term loan and revolver and the settlement of the related interest rate swap, (iv) additional interest expense related to financing for the acquisition (refer to Note 12, "Credit Facilities and Debt"), (v) depreciation expense on property, plant and equipment, (vi) additional incremental stock-based compensation expense for the replacement of Evoqua’s outstanding equity awards with Xylem’s replacement equity awards, and (vii) the related tax effects assuming that the business combination occurred on January 1, 2022. The significant nonrecurring adjustments reflected in the unaudited pro-forma consolidated information above include the reclassification of the transaction costs to the earliest period presented and the reversal of the impacts related to the settlement of the interest rate swap, each net of tax. Divestitures

Revenue

Revenue	6 Months Ended
Revenue	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue The following table illustrates the sources of revenue: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Revenue from contracts with customers $ 2,037 $ 1,637 $ 3,947 $ 3,020 Lease Revenue 132 85 255 150 Total $ 2,169 $ 1,722 $ 4,202 $ 3,170 The following table reflects revenue from contracts with customers by application. Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Water Infrastructure Transport $ 371 $ 351 $ 708 $ 673 Treatment 260 168 497 256 Applied Water Building Solutions 255 257 495 510 Industrial Water 201 221 397 421 Measurement and Control Solutions Smart Metering and Other 393 296 770 587 Analytics 89 88 174 175 Water Solutions and Services 468 256 906 398 Total $ 2,037 $ 1,637 $ 3,947 $ 3,020 The following table reflects revenue from contracts with customers by geographical region. Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Water Infrastructure United States $ 225 $ 174 $ 429 $ 306 Western Europe 225 198 436 366 Emerging Markets (a) 122 99 236 172 Other 59 48 104 85 Applied Water United States 239 248 471 492 Western Europe 102 105 201 209 Emerging Markets (a) 84 86 157 159 Other 31 39 63 71 Measurement and Control Solutions United States 329 244 634 481 Western Europe 77 66 159 141 Emerging Markets (a) 47 50 91 96 Other 29 24 60 44 Water Solutions and Services United States 358 164 693 228 Western Europe 24 27 47 51 Emerging Markets (a) 41 36 83 70 Other 45 29 83 49 Total $ 2,037 $ 1,637 $ 3,947 $ 3,020 (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, 2023 $ 151 $ 183 Opening balance from the acquisition of Evoqua 110 107 Additions, net 85 94 Revenue recognized from opening balance — (80) Billings transferred to accounts receivable (73) — Foreign currency and other 1 (5) Balance at June 30, 2023 $ 274 $ 299 Balance at January 1, 2024 $ 263 $ 315 Additions, net 264 191 Revenue recognized from opening balance — (201) Billings transferred to accounts receivable (239) — Foreign currency and other (3) (6) Balance at June 30, 2024 $ 285 $ 299 (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 June 30, 2024, the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied for contracts with performance obligations, amount to $1.4 billion, of which $804 million was contributed by the Evoqua acquisition. We expect to recognize the majority of revenue upon the completion of satisfying these performance obligations in the following 60 months. 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.

Restructuring Charges

Restructuring Charges	6 Months Ended
Restructuring Charges	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring Charges	Restructuring and Asset Impairment Charges Restructuring During the three and six months ended June 30, 2024, we incurred restructuring charges of $23 million and $32 million, respectively. For the three and six months ended June 30, 2024, the charges incurred primarily related to strengthening our competitive positioning and the integration of Evoqua. The following table presents the components of restructuring expense and asset impairment charges: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 By component: Severance and other charges $ 8 $ 29 $ 17 $ 35 Asset impairment 15 — 16 — Reversal of restructuring accruals — (1) (1) (1) Total restructuring costs $ 23 $ 28 $ 32 $ 34 Asset impairment charges — — 1 2 Total restructuring and asset impairment charges $ 23 $ 28 $ 33 $ 36 By segment: Water Infrastructure $ 1 $ 1 $ 6 $ 3 Applied Water — 1 1 1 Measurement and Control Solutions — — — 6 Water Solutions and Services 22 4 24 4 Corporate and other — 22 2 22 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 six months ended June 30, 2024 and 2023: (in millions) 2024 2023 Restructuring accruals - January 1 $ 24 $ 10 Restructuring costs, net 32 34 Cash payments (18) (9) Asset impairment (16) — Stock based compensation expense included within AOCL (2) (14) Foreign currency and other (1) (1) Restructuring accruals - June 30 $ 19 $ 20 By segment: Water Infrastructure $ 2 $ 2 Applied Water 1 — Measurement and Control Solutions 5 3 Water Solutions and Services 6 4 Regional selling locations (a) 3 2 Corporate and other 2 9 (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. The following table presents expected restructuring spend in 2024 and thereafter: (in millions) Water Infrastructure Applied Water Measurement and Control Solutions Water Solutions and Services Corporate Total Actions Commenced in 2024: Total expected costs $ 2 $ 1 $ — $ 24 $ — $ 27 Costs incurred during Q1 2024 — 1 — 2 — 3 Costs incurred during Q2 2024 — — — 22 — 22 Total expected costs remaining $ 2 $ — $ — $ — $ — $ 2 Actions Commenced in 2023: Total expected costs $ 20 $ 10 $ 10 $ 7 $ 36 $ 83 Costs incurred in 2023 13 6 10 7 35 71 Costs incurred during Q1 2024 5 — — — 1 6 Costs incurred during Q2 2024 1 — — — — 1 Total expected costs remaining $ 1 $ 4 $ — $ — $ — $ 5 The actions commenced in 2024 consist primarily of severance and asset impairment charges. The actions are expected to continue through the end of 2025. During the second quarter of 2024, we recognized $15 million in impairment charges primarily related to customer relationships and trademarks due to restructuring actions within our Water Solutions and Services segment. Asset Impairment 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. During the first quarter of 2023, we determined that internally developed in-process software within our Measurement and Control Solutions segment was impaired as a result of actions taken to prioritize strategic investments and we therefore recognized an impairment charge of $2 million. Refer to Note 9, "Goodwill and Other Intangible Assets," for additional information.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
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 June 30, 2024 was $53 million resulting in an effective tax rate of 21.4%, compared to a $22 million expense resulting in an effective tax rate of 19.1% for the same period in 2023. The income tax provision for the six months ended June 30, 2024 was $96 million resulting in an effective tax rate of 21.6%, compared to a $49 million expense resulting in an effective tax rate of 20.5% for the same period in 2023. The effective tax rate for the three and six month periods ended June 30, 2024 were higher than the U.S. federal statutory rate primarily due to earnings mix. 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 $79 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”). The parties await the Court’s decision as to whether it will hear the STA’s appeal, which may impact the timing of when the trial court considers the issue on remand. 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 June 30, 2024, we do not have any unrecognized tax benefits related to this uncertain tax position.

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following is a reconciliation of the shares used in calculating basic and diluted net earnings per share: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net income (in millions) $ 194 $ 92 $ 347 $ 191 Shares (in thousands): Weighted average common shares outstanding 242,538 205,505 242,182 192,938 Add: Participating securities (a) 34 34 31 29 Weighted average common shares outstanding — Basic 242,572 205,539 242,213 192,967 Plus incremental shares from assumed conversions: (b) Dilutive effect of stock options 576 872 651 747 Dilutive effect of restricted stock units and performance share units 390 329 415 315 Weighted average common shares outstanding — Diluted 243,538 206,740 243,279 194,029 Basic earnings per share $ 0.80 $ 0.45 $ 1.43 $ 0.99 Diluted earnings per share $ 0.80 $ 0.45 $ 1.43 $ 0.98 (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 Six Months Ended June 30, June 30, (in thousands) 2024 2023 2024 2023 Stock options 979 2,107 1,116 1,732 Restricted stock units 452 606 440 469 Performance share units 311 318 326 279

Inventories

Inventories	6 Months Ended
Inventories	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories The components of total inventories are summarized as follows: (in millions) June 30, December 31, Finished goods $ 379 $ 355 Work in process 117 102 Raw materials 561 561 Total inventories $ 1,057 $ 1,018

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
Goodwill and Other Intangible Assets	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill As a result of the change in reportable segments disclosed in Note 1, "Background and Basis of Presentation," goodwill was reallocated amongst segments. This reallocation and changes in the carrying value of goodwill by reportable segment for the six months ended June 30, 2024 are as follows: (in millions) Water Applied Water Measurement and Control Solutions Water Solutions and Services Total Balance as of December 31, 2023 $ 2,434 $ 895 $ 1,739 $ 2,519 $ 7,587 Reallocation (287) — (64) 351 — Balance as of January 1, 2024 2,147 895 1,675 2,870 7,587 Activity in 2024 Foreign currency and other (32) (7) (17) (22) (78) Balance as of June 30, 2024 $ 2,115 $ 888 $ 1,658 $ 2,848 $ 7,509 The Company has applied the acquisition method of accounting in accordance with ASC 805 and recognized assets acquired and liabilities assumed of Evoqua at their fair value as of the date of acquisition, with the excess purchase consideration recorded to goodwill. We have allocated goodwill to segments of the Company that are expected to benefit from the synergies of the acquisition. Other Intangible Assets Information regarding our other intangible assets is as follows: June 30, 2024 December 31, 2023 (in millions) Carrying Accumulated Net Carrying Accumulated Net Customer and distributor relationships $ 2,150 $ (525) $ 1,625 $ 2,172 $ (475) $ 1,697 Proprietary technology and patents 277 (146) 131 292 (141) 151 Trademarks 187 (104) 83 188 (96) 92 Software 598 (356) 242 598 (335) 263 Other 197 (69) 128 201 (41) 160 Indefinite-lived intangibles 165 — 165 166 — 166 Other Intangibles $ 3,574 $ (1,200) $ 2,374 $ 3,617 $ (1,088) $ 2,529 Amortization expense related to finite-lived intangible assets was $83 million and $156 million for the three and six-month periods ended June 30, 2024, respectively, and $51 million and $83 million for the three and six-month periods ended June 30, 2023, respectively. During the second quarter of 2024, we recognized $13 million in impairment charges primarily related to customer relationships and trademarks due to restructuring actions within our Water Solutions and Services segment. During the first quarter of 2024, we recognized a $1 million impairment charge for internally developed software within Corporate. During 2023, we determined that internally developed in-process software within our Measurement and Control Solutions segment was impaired as a result of actions taken to prioritize strategic investments and we therefore recognized an impairment charge of $2 million.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
Derivative Financial Instruments	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	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. As a result of Evoqua terminating their interest rate swaps prior to the Company completing the acquisition, the Company received $38 million in proceeds during the second quarter of 2023 from the termination of the interest rate swaps. 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 $323 million and $29 million as of June 30, 2024 and December 31, 2023, respectively. As of June 30, 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, purchase Polish Zloty and sell Euro, sell Canadian Dollar and purchase U.S. Dollar, sell Australian Dollar and purchase Euro, and purchase Canadian Dollar and sell U.S. Dollar. The purchased notional amounts associated with these currency derivatives are $115 million, $96 million, $41 million, $22 million, $18 million, $15 million, $13 million, and $3 million, respectively. As of December 31, 2023, our most significant foreign currency derivatives included contracts to purchase U.S. Dollar and sell Chinese Yuan and to purchase U.S. Dollar and sell Canadian Dollar. The purchased notional amounts associated with these currency derivatives were $19 million and $10 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 $1,626 million and $1,691 million as of June 30, 2024 and December 31, 2023, respectively. 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 loss" ("OCL") within the Statements of Comprehensive Income: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Cash Flow Hedges Foreign Exchange Contracts Amount of (loss) gain recognized in OCL $ — $ (3) $ (3) $ 1 Amount of (gain) loss reclassified from OCL into Revenue — (1) — 2 Amount of (gain) loss reclassified from OCL into Cost of revenue (1) — — 2 Net Investment Hedges Cross-Currency Swaps Amount of gain (loss) recognized in OCL $ 21 $ (37) $ 61 $ (59) Amount of income recognized in Interest expense 8 8 16 15 As of June 30, 2024, $4 million of net losses on cash flow hedges are expected to be reclassified into earnings in the next 12 months. As of June 30, 2024, 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) June 30, December 31, Derivatives designated as hedging instruments Assets Cash Flow Hedges Prepaid and other current assets $ 1 $ — Net Investment Hedges Other non-current assets $ 40 $ 9 Liabilities Cash Flow Hedges Accrued and other current liabilities $ (4) $ — Net Investment Hedges Other non-current accrued liabilities $ (23) $ (54)

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	6 Months Ended
Accrued and Other Current Liabilities	Jun. 30, 2024
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) June 30, December 31, Compensation and other employee-benefits $ 339 $ 403 Customer-related liabilities 361 370 Accrued taxes 120 170 Lease liabilities 106 106 Accrued warranty costs 43 45 Other accrued liabilities 116 127 Total accrued and other current liabilities $ 1,085 $ 1,221 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 $250 million and $176 million as of June 30, 2024 and December 31, 2023, respectively. The table below provides changes in the confirmed obligations outstanding related to our supplier financing programs over each period: (in millions) 2024 Confirmed obligations outstanding – January 1 $ 176 Invoices confirmed $ 537 Confirmed invoices paid $ (461) Foreign currency and other $ (2) Confirmed obligations outstanding – June 30 $ 250

Credit Facilities and Debt

Credit Facilities and Debt	6 Months Ended
Credit Facilities and Debt	Jun. 30, 2024
Debt Disclosure [Abstract]
Credit Facilities and Debt	Credit Facilities and Debt Total debt outstanding is summarized as follows: (in millions) June 30, December 31, 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 2024 to 2032 114 123 Term loan — 278 Debt issuance costs and unamortized discount (b) (16) (17) Total debt 1,998 2,284 Less: short-term borrowings and current maturities of long-term debt 17 16 Total long-term debt $ 1,981 $ 2,268 (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 $478 million and $482 million as of June 30, 2024 and December 31, 2023, respectively. The fair value of our Senior Notes due 2028 was $449 million and $453 million as of June 30, 2024 and December 31, 2023, respectively. The fair value of our Senior Notes due 2031 was $420 million and $429 million as of June 30, 2024 and December 31, 2023, respectively. The fair value of our Senior Notes due 2046 was $335 million and $349 million as of June 30, 2024 and December 31, 2023, 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 June 30, 2024, 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 June 30, 2024, we are in compliance with all covenants for the Senior Notes. Credit Facilities 2019 Five-Year Revolving Credit Facility On March 5, 2019, Xylem entered into a Five-Year Revolving Credit Facility (the “2019 Credit Facility”) with Citibank, N.A., as Administrative Agent, and a syndicate of lenders. The 2019 Credit Facility provided for an aggregate principal amount of up to $800 million (available in U.S. Dollars and in Euros), with increases of up to $200 million for a maximum aggregate principal amount of $1 billion at the request of Xylem and with the consent of the institutions providing such increased commitments. On March 1, 2023, Xylem terminated the 2019 Credit Facility among the Company, certain lenders and Citibank, N.A. as Administrative Agent as a result of signing the 2023 Five-Year Revolving Credit Facility. 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 June 30, 2024, 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 June 30, 2024. Term Loan Facility On May 9, 2023, the Company’s subsidiary, Xylem Europe GmbH (the “Borrower”) entered into a twenty four-month €250 million (approximately $270 million) term loan facility (the “Term Facility”) the terms of which are set forth in a term loan agreement, among the Borrower, the Company, as parent guarantor and ING Bank. The Company has entered into a parent guarantee in favor of ING Bank also dated May 9, 2023 to secure all present and future obligations of the borrower under the Term Loan Agreement. The net cash proceeds were used to repay a portion of Evoqua’s indebtedness pursuant to the Merger Agreement. On April 19, 2024 our Term Loan Facility was settled with cash on hand for a total of €250 million ($268 million). Equipment Financing As a result of the Evoqua acquisition, 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 June 30, 2024, the gross and net amounts of those assets are included on the Consolidated Balance Sheets as follows: June 30, 2024 (in millions) Gross Net Property, plant, and equipment, net $ 70 $ 61 Receivables, net 3 3 Prepaid and other current assets 5 5 Other non-current assets 62 62 $ 140 $ 131 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 June 30, 2024 and December 31, 2023, none of the Company's $600 million U.S. Dollar commercial paper program was outstanding, respectively. The net cash proceeds from issuance of commercial paper were used to repay a portion of Evoqua’s indebtedness pursuant to the Merger Agreement. We have the ability to continue borrowing under this program going forward in future periods. 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 $535 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 June 30, 2024 and December 31, 2023, 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. Receivables Securitization Program On April 1, 2021, Evoqua Finance LLC (“Evoqua Finance”), now an indirect wholly-owned subsidiary of the Company, entered into an accounts receivable securitization program (the “Receivables Securitization Program”) consisting of, among other agreements, (i) a Receivables Financing Agreement (as amended, the “Receivables Financing Agreement”) among Evoqua Finance, as the borrower, the lenders from time to time party thereto (the “Receivables Financing Lenders”), PNC Bank, National Association ("PNC"), as administrative agent, EWT LLC, as initial servicer, and PNC Capital Markets LLC, as structuring agent, pursuant to which the lenders have made available to Evoqua Finance a receivables finance facility in an amount up to $150 million, (ii) a Sale and Contribution Agreement (as amended, the “Sale and Contribution Agreement”) among Evoqua Finance, as purchaser, EWT LLC, as initial servicer and as an originator, and Neptune Benson, Inc., an indirectly wholly-owned subsidiary of the Company, as an originator (together with EWT LLC, the “Originators”), and (iii) a Performance Guaranty of Xylem Inc. dated as of May 24, 2023 (the “Performance Guaranty”) in favor of PNC and for the benefit of PNC and the other secured parties under the Receivables Financing Agreement that replaced the performance guaranty of EWT Holdings II Corp. and EWT Holdings III Corp dated as of April 1, 2021. The Receivables Securitization Program contains certain customary representations, warranties, affirmative covenants, and negative covenants, subject to certain cure periods in some cases, including the eligibility of the receivables being sold by the Originators and securing the loans made by the Receivables Financing Lenders, as well as customary reserve requirements, events of default, termination events, and servicer defaults. On July 20, 2023, the Receivables Financing Agreement, the Sale and Contribution Agreement and the Performance Guaranty and the other transaction documents under the Receivables Financing Program were terminated and all outstanding obligations for principal, interest, and fees under the agreement were paid in full.

Post-retirement Benefit Plans

Post-retirement Benefit Plans	6 Months Ended
Post-retirement Benefit Plans	Jun. 30, 2024
Retirement Benefits [Abstract]
Post-retirement Benefit Plans	Post-retirement Benefit Plans The components of net periodic benefit cost for our defined benefit pension plans are as follows: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Domestic defined benefit pension plans: Service cost $ — $ 1 $ 1 $ 2 Interest cost 1 1 2 2 Expected return on plan assets (2) (2) (3) (3) Amortization of net actuarial loss 1 — 1 — Net periodic benefit cost $ — $ — $ 1 $ 1 International defined benefit pension plans: Service cost $ 3 $ 1 $ 5 $ 3 Interest cost 4 4 8 8 Expected return on plan assets (3) (3) (6) (6) Amortization of actuarial (gain) loss — — — (1) Net periodic benefit cost $ 4 $ 2 $ 7 $ 4 Total net periodic benefit cost $ 4 $ 2 $ 8 $ 5 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 and six months ended June 30, 2024 and 2023, respectively. We contributed $7 million and $9 million to our defined benefit plans for the six months ended June 30, 2024 and 2023, respectively. Additional contributions ranging between approximately $16 million and $20 million are expected to be made during the remainder of 2024.

Equity

Equity	6 Months Ended
Equity	Jun. 30, 2024
Equity [Abstract]
Equity	Equity The following table shows the changes in stockholders' equity for the six months ended June 30, 2024: (in millions) Common Capital in Excess of Par Value Retained Accumulated Other 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 income, 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 Net income — — 194 — — — 194 Other comprehensive income, net — — — — — — — Other activity — — — — — (1) (1) Dividends declared ($0.36 per share) — — (87) — — — (87) Stock incentive plan activity — 42 — — (3) — 39 Balance at June 30, 2024 $ 3 $ 8,660 $ 2,774 $ (345) $ (751) $ 7 $ 10,348 The following table shows the changes in stockholders' equity for the six months ended June 30, 2023: Common Capital in Excess of Par Value Retained Accumulated Other Treasury Stock Non-Controlling Interest Total Balance at January 1, 2023 $ 2 $ 2,134 $ 2,292 $ (226) $ (708) $ 9 $ 3,503 Net income — — 99 — — — 99 Other comprehensive loss, net — — — 35 — — 35 Other activity — — — — — 2 2 Dividends declared ($0.33 per share) — — (60) — — — (60) Stock incentive plan activity — 18 — — (8) — 10 Balance at March 31, 2023 $ 2 $ 2,152 $ 2,331 $ (191) $ (716) $ 11 $ 3,589 Net income — — 92 — — — 92 Other comprehensive income, net — — — (35) — — (35) Issuance of common stock 1 6,120 — — — — 6,121 Issuance of replacement equity awards — 160 — — — — 160 Dividends declared ($0.33 per share) — — (79) — — — (79) Stock incentive plan activity — 63 — — (1) — 62 Balance at June 30, 2023 $ 3 $ 8,495 $ 2,344 $ (226) $ (717) $ 11 $ 9,910

Share-Based Compensation Plans

Share-Based Compensation Plans	6 Months Ended
Share-Based Compensation Plans	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation Plans	Share-Based Compensation Plans Share-based compensation expense was $13 million and $31 million during the three and six months ended June 30, 2024, respectively, and $16 million and $27 million during the three and six months ended June 30, 2023, respectively. The unrecognized compensation expense related to our stock options, restricted stock units and performance share units was $8 million, $50 million and $19 million, respectively, at June 30, 2024 and is expected to be recognized over a weighted average period of 2.1, 2.1 and 2.2 years, respectively. The amount of cash received from the exercise of stock options was $63 million and $40 million for the six months ended June 30, 2024 and 2023, respectively. On May 24, 2023, there were an additional 2.7 million shares registered for issuance. As of June 30, 2024, there were approximately 5.3 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 six months ended June 30, 2024 : Share units (in thousands) Weighted Weighted Average Aggregate Intrinsic Value (in millions) Outstanding at January 1, 2024 2,150 $ 69.34 5.6 $ 97 Granted 177 127.94 Exercised (1,038) 61.22 Forfeited and expired (88) 97.75 Outstanding at June 30, 2024 1,201 $ 82.91 6.7 $ 63 Options exercisable at June 30, 2024 859 $ 71.02 5.8 $ 55 Vested and expected to vest as of June 30, 2024 1,158 $ 81.65 6.1 $ 62 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 six months ended June 30, 2024 was $71 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 2024 grants: Volatility 26.70 % Risk-free interest rate 4.18 % Dividend yield 1.13 % Expected term (in years) 5.7 Weighted-average fair value / share $ 37.82 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 The following is a summary of restricted stock unit activity for the six months ended June 30, 2024 . 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 Outstanding at January 1, 2024 862 $ 98.49 Granted 271 128.80 Vested (398) 77.54 Forfeited (52) 100.84 Outstanding at June 30, 2024 683 $ 110.32 ROIC and Adjusted EBITDA Performance Share Unit Grants The following is a summary of our ROIC and EBITDA grants for the six months ended June 30, 2024. 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 Outstanding at January 1, 2024 114 $ 97.70 Granted 26 127.94 Adjustment for Performance Condition Achieved (a) 16 102.51 Vested (64) 102.51 Forfeited (14) 96.31 Outstanding at June 30, 2024 78 $ 105.11 (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 six months ended June 30, 2024: Share units (in thousands) Weighted Outstanding at January 1, 2024 180 $ 103.52 Granted 52 181.80 Adjustment for Market Condition Achieved (a) (9) 117.67 Vested (39) 117.67 Forfeited (28) 102.69 Outstanding at June 30, 2024 156 $ 125.63 (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 2024 grants: Volatility 27.2 % Risk-free interest rate 4.33 % Revenue Performance Share Unit Grants The following is a summary of our Revenue performance share unit grants for the six months ended June 30, 2024: Share units (in thousands) Weighted Outstanding at January 1, 2024 66 $ 94.19 Granted 26 127.94 Forfeited (14) 96.31 Outstanding at June 30, 2024 78 $ 62.69 The fair value of the Revenue performance share unit awards is determined using the closing price of our common stock on date of grant. For the performance periods, the performance share units were awarded at a target of 100% with actual payout contingent upon the achievement of a pre-set, three-year adjusted ROIC performance target for ROIC performance share units, a third-year adjusted EBITDA performance target for adjusted EBITDA performance share units, a pre-set third year revenue target for Revenue performance share units and a relative TSR performance for TSR performance share units.

Capital Stock

Capital Stock	6 Months Ended
Capital Stock	Jun. 30, 2024
Equity [Abstract]
Capital Stock	Capital Stock For the three and six months ended June 30, 2024, the Company repurchased less than 0.1 million shares of common stock for approximately $3 million and approximately 0.1 million shares of common stock for $18 million, respectively. For the three and six months ended June 30, 2023, the Company repurchased less than 0.1 million shares of common stock for approximately $1 million and approximately 0.1 million shares of common stock for $9 million, respectively. Repurchases 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 and six months ended June 30, 2024 and June 30, 2023. There are up to $182 million in shares that may still be purchased under this plan as of June 30, 2024. Aside from the aforementioned repurchase program, we repurchased less than 0.1 million shares and approximately 0.1 million shares for approximately $3 million and $18 million for the three and six months ended June 30, 2024, respectively, in relation to settlement of employee tax withholding obligations due as a result of the vesting of restricted stock units. Likewise, we repurchased less than 0.1 million shares and approximately 0.1 million shares for $1 million and $9 million for the three and six months ended June 30, 2023, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
Accumulated Other Comprehensive Income (Loss)	Jun. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Loss The following table provides the components of AOCL for the six months ended June 30, 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) Foreign currency translation adjustment 6 — — 6 Tax on foreign currency translation adjustment (5) — — (5) Income tax impact on amortization of post-retirement benefit plan items — — — — Reclassification of unrealized gain on foreign exchange agreements into cost of revenue — — (1) (1) Balance at June 30, 2024 $ (270) $ (71) $ (4) $ (345) The following table provides the components of AOCL for the six months ended June 30, 2023: (in millions) Foreign Currency Translation Post-retirement Benefit Plans Derivative Instruments Total Balance at January 1, 2023 $ (180) $ (41) $ (5) $ (226) Foreign currency translation adjustment 22 — — 22 Tax on foreign currency translation adjustment 5 — — 5 Amortization of actuarial gain on post-retirement benefit plans into other non-operating income, net — (1) — (1) Income tax impact on amortization of post-retirement benefit plan items — 1 — 1 Unrealized gain on derivative hedge agreements — — 4 4 Income tax benefit on unrealized gain on derivative hedge agreements — — (1) (1) Reclassification of unrealized loss on foreign exchange agreements into revenue — — 3 3 Reclassification of unrealized loss on foreign exchange agreements into cost of revenue — — 2 2 Balance at March 31, 2023 $ (153) $ (41) $ 3 $ (191) Foreign currency translation adjustment (38) — — (38) Tax on foreign currency translation adjustment 9 — — 9 Amortization of prior service cost and net actuarial gain on post-retirement benefit plans into other non-operating income, net — (1) — (1) Foreign currency translation adjustment for post-retirement benefit plans — (1) — (1) Unrealized loss on derivative hedge agreements — — (3) (3) Reclassification of unrealized gain on foreign exchange agreements into revenue — — (1) (1) Balance at June 30, 2023 $ (182) $ (43) $ (1) $ (226)

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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 $6 million and $18 million as of June 30, 2024 and December 31, 2023, respectively, 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 June 30, 2024 and December 31, 2023, the amount of surety bonds, bank guarantees, insurance letters of credit, stand-by letters of credit as well as revenue and customs guarantees was $733 million and $729 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. These sites are in various stages of investigation and/or remediation and in many of these proceedings our liability is considered de minimis. We have received notification from the U.S. Environmental Protection Agency, and from similar state and foreign environmental agencies, that a number of sites formerly or currently owned and/or operated by Xylem or for which we are responsible, and other properties or water supplies that may be or have been impacted from those operations, contain disposed or recycled materials or wastes and require environmental investigation and/or remediation. These sites include instances where we have been identified as a potentially responsible party under federal and state environmental laws and regulations. Accruals for environmental matters are recorded on a site-by-site basis when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. Our accrued liabilities for these environmental matters represent our best estimates related to the investigation and remediation of environmental media such as water, soil, soil vapor, air and structures, as well as related legal fees. These estimates, and related accruals, are reviewed quarterly and updated for progress of investigation and remediation efforts and changes in facts and legal circumstances. Liabilities for these environmental expenditures are recorded on an undiscounted basis. We have estimated and accrued $4 million as of June 30, 2024 and December 31, 2023 for environmental matters. It is difficult to estimate the final costs of investigation and remediation due to various factors, including incomplete information regarding particular sites and other potentially responsible parties, uncertainty regarding the extent of investigation or remediation and our share, if any, of liability for such conditions, the selection of alternative remedial approaches, and changes in environmental standards and regulatory requirements. 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) 2024 2023 Warranty accrual – January 1 $ 63 $ 54 Net charges for product warranties in the period 17 13 Net Evoqua additions from acquisition — 10 Settlement of warranty claims (18) (13) Warranty accrual – June 30 $ 62 $ 64

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	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; anodes and electro chlorination technologies 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. 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 2023 Annual Report. The following table contains financial information for each reportable segment: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Revenue: Water Infrastructure $ 631 $ 519 $ 1,205 $ 929 Applied Water 456 478 892 931 Measurement and Control Solutions 482 384 944 762 Water Solutions and Services 600 341 1,161 548 Total $ 2,169 $ 1,722 $ 4,202 $ 3,170 Operating Income (Loss): Water Infrastructure $ 78 $ 70 $ 138 $ 116 Applied Water 71 84 132 167 Measurement and Control Solutions 79 29 149 55 Water Solutions and Services 47 26 97 44 Corporate and other (22) (90) (54) (132) Total operating income $ 253 $ 119 $ 462 $ 250 Interest expense $ 11 $ 12 $ 25 $ 21 Other non-operating income, net 4 7 10 11 Gain/(Loss) on sale of business 1 — (4) — Income before taxes $ 247 $ 114 $ 443 $ 240 Depreciation and Amortization: Water Infrastructure $ 37 $ 18 $ 68 $ 27 Applied Water 7 7 14 13 Measurement and Control Solutions 32 31 65 61 Water Solutions and Services 66 34 126 47 Corporate and other 3 2 6 4 Total $ 145 $ 92 $ 279 $ 152 Capital Expenditures: Water Infrastructure $ 9 $ 7 $ 17 $ 15 Applied Water 3 7 8 15 Measurement and Control Solutions 19 13 37 30 Water Solutions and Services 33 18 66 25 Regional selling locations (a) 5 5 11 11 Corporate and other 4 3 8 7 Total $ 73 $ 53 $ 147 $ 103 (a) Represents capital expenditures incurred by the Regional selling locations not allocated to the segments.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income attributable to Xylem (in usd)	$ 194	$ 92	$ 347	$ 191

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
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

Background and Basis of Prese_2

Background and Basis of Presentation (Policies)	6 Months Ended
Background and Basis of Presentation (Policies)	Jun. 30, 2024
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, 2023 ("2023 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 2023 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. The Company announced a change to its reportable segments effective January 1, 2024, and as a result, is now reporting the financial position and results of operations of its former Integrated Solutions and Services segment together with the dewatering business, previously within our Water Infrastructure segment, and the assessment services business, previously within our Measurement and Control Solutions segment, in a new segment that is referred to as Water Solutions and Services. The Company’s Water Infrastructure reportable segment no longer includes the results of the dewatering business, and the Company’s Measurement and Control Solutions reportable segment no longer includes the results of the assessment services business. The Company's Applied Water reportable segment remains unchanged. As a result of the change, the Company has recast prior period segment amounts to align with the new segment reporting. The recast financial information reflects depreciation, amortization and share-based compensation specifically identified to the segments that were previously reported within Corporate and other and Regional selling locations as part of an overall allocation. These changes have no impact on the Company’s historical consolidated financial position or results of operations. 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 Issued Accounting Pr_2

Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
Recently Issued Accounting Pronouncements (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Recently Adopted Pronouncements	Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, "Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures." This guidance requires disclosure information about significant segment expenses. The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The standard is required to be applied on a retrospective basis to all periods presented in the consolidated financial statements. The Company is currently evaluating the impacts of the guidance on our disclosures in future periods. In December 2023, the FASB issued ASU No. 2023-09, "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. Recently Adopted Pronouncements In September 2022, the FASB issued ASU 2022-04, " Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. " This guidance requires disclosure of the key terms of outstanding supplier finance programs and a rollforward of the related obligations. The standard does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. The ASU became effective January 1, 2023, and the rollforward requirement became effective January 1, 2024. Refer to Note 11, "Current Liabilities" for the disclosures related to our adoption of the standard.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
Acquisitions and Divestitures (Tables)	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combination, Separately Recognized Transactions	The acquisition-date fair value of the consideration totaled $6,900 million, which consisted of the following: (in millions) Fair Value of Purchase Consideration Xylem Common Stock issued to Evoqua stockholders (58,779,096 shares) $ 6,121 Estimated replacement equity awards 160 Payment of certain Evoqua indebtedness 619 Total $ 6,900
Purchase Price Allocation	The following table summarizes the acquisition date fair value of net tangible and intangible assets acquired, net of liabilities assumed from Evoqua: (in millions) Fair Value Cash and cash equivalents $ 143 Receivables(a) 430 Inventories 258 Prepaid and other current assets 78 Assets held for sale 8 Property, plant and equipment, net 508 Goodwill 4,801 Other intangible assets, net 1,769 Other non-current assets 180 Non-current assets held for sale 85 Accounts payable (210) Accrued and other current liabilities (357) Short-term borrowings and current maturities of long-term debt (166) Liabilities held for sale (1) Long-term debt (111) Other non-current accrued liabilities (120) Deferred income tax liabilities (392) Non-current liabilities held for sale (3) Total $ 6,900 (a) Including $320 million of receivables and $110 million of contract assets.
Summary of Intangible Assets Acquired	The following table summarizes key information underlying identifiable intangible assets related to the Evoqua acquisition: (in millions) Useful Life (in years) Useful Life Weighted Average (in years) Fair Value (in millions) Trademarks 6 6.0 $ 50 Proprietary technology and patents 4 - 9 7.1 120 Customer and distributor relationships 6 - 20 17.9 1,395 Backlog 1 - 10 5.4 120 Permits 8 8.0 70 Software 1 - 13 2.3 14 Total 15.4 $ 1,769
Pro Forma Information	The following table summarizes, on an unaudited pro forma basis, the condensed combined results of operations of the Company for the three and six months ended June 30, 2023, assuming the acquisition had occurred on January 1, 2022. (Unaudited) (Unaudited) (in millions) 2023 2023 Revenue $ 2,025 $ 3,952 Net income $ 63 $ 170

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table illustrates the sources of revenue: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Revenue from contracts with customers $ 2,037 $ 1,637 $ 3,947 $ 3,020 Lease Revenue 132 85 255 150 Total $ 2,169 $ 1,722 $ 4,202 $ 3,170 The following table reflects revenue from contracts with customers by application. Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Water Infrastructure Transport $ 371 $ 351 $ 708 $ 673 Treatment 260 168 497 256 Applied Water Building Solutions 255 257 495 510 Industrial Water 201 221 397 421 Measurement and Control Solutions Smart Metering and Other 393 296 770 587 Analytics 89 88 174 175 Water Solutions and Services 468 256 906 398 Total $ 2,037 $ 1,637 $ 3,947 $ 3,020 The following table reflects revenue from contracts with customers by geographical region. Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Water Infrastructure United States $ 225 $ 174 $ 429 $ 306 Western Europe 225 198 436 366 Emerging Markets (a) 122 99 236 172 Other 59 48 104 85 Applied Water United States 239 248 471 492 Western Europe 102 105 201 209 Emerging Markets (a) 84 86 157 159 Other 31 39 63 71 Measurement and Control Solutions United States 329 244 634 481 Western Europe 77 66 159 141 Emerging Markets (a) 47 50 91 96 Other 29 24 60 44 Water Solutions and Services United States 358 164 693 228 Western Europe 24 27 47 51 Emerging Markets (a) 41 36 83 70 Other 45 29 83 49 Total $ 2,037 $ 1,637 $ 3,947 $ 3,020 (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 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, 2023 $ 151 $ 183 Opening balance from the acquisition of Evoqua 110 107 Additions, net 85 94 Revenue recognized from opening balance — (80) Billings transferred to accounts receivable (73) — Foreign currency and other 1 (5) Balance at June 30, 2023 $ 274 $ 299 Balance at January 1, 2024 $ 263 $ 315 Additions, net 264 191 Revenue recognized from opening balance — (201) Billings transferred to accounts receivable (239) — Foreign currency and other (3) (6) Balance at June 30, 2024 $ 285 $ 299 (a) Excludes receivable balances, which are disclosed on the Condensed Consolidated Balance Sheets

Restructuring Charges (Tables)

Restructuring Charges (Tables)	6 Months Ended
Restructuring Charges (Tables)	Jun. 30, 2024
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 Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 By component: Severance and other charges $ 8 $ 29 $ 17 $ 35 Asset impairment 15 — 16 — Reversal of restructuring accruals — (1) (1) (1) Total restructuring costs $ 23 $ 28 $ 32 $ 34 Asset impairment charges — — 1 2 Total restructuring and asset impairment charges $ 23 $ 28 $ 33 $ 36 By segment: Water Infrastructure $ 1 $ 1 $ 6 $ 3 Applied Water — 1 1 1 Measurement and Control Solutions — — — 6 Water Solutions and Services 22 4 24 4 Corporate and other — 22 2 22
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 six months ended June 30, 2024 and 2023: (in millions) 2024 2023 Restructuring accruals - January 1 $ 24 $ 10 Restructuring costs, net 32 34 Cash payments (18) (9) Asset impairment (16) — Stock based compensation expense included within AOCL (2) (14) Foreign currency and other (1) (1) Restructuring accruals - June 30 $ 19 $ 20 By segment: Water Infrastructure $ 2 $ 2 Applied Water 1 — Measurement and Control Solutions 5 3 Water Solutions and Services 6 4 Regional selling locations (a) 3 2 Corporate and other 2 9 (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 2024 and thereafter: (in millions) Water Infrastructure Applied Water Measurement and Control Solutions Water Solutions and Services Corporate Total Actions Commenced in 2024: Total expected costs $ 2 $ 1 $ — $ 24 $ — $ 27 Costs incurred during Q1 2024 — 1 — 2 — 3 Costs incurred during Q2 2024 — — — 22 — 22 Total expected costs remaining $ 2 $ — $ — $ — $ — $ 2 Actions Commenced in 2023: Total expected costs $ 20 $ 10 $ 10 $ 7 $ 36 $ 83 Costs incurred in 2023 13 6 10 7 35 71 Costs incurred during Q1 2024 5 — — — 1 6 Costs incurred during Q2 2024 1 — — — — 1 Total expected costs remaining $ 1 $ 4 $ — $ — $ — $ 5

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2024
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 Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net income (in millions) $ 194 $ 92 $ 347 $ 191 Shares (in thousands): Weighted average common shares outstanding 242,538 205,505 242,182 192,938 Add: Participating securities (a) 34 34 31 29 Weighted average common shares outstanding — Basic 242,572 205,539 242,213 192,967 Plus incremental shares from assumed conversions: (b) Dilutive effect of stock options 576 872 651 747 Dilutive effect of restricted stock units and performance share units 390 329 415 315 Weighted average common shares outstanding — Diluted 243,538 206,740 243,279 194,029 Basic earnings per share $ 0.80 $ 0.45 $ 1.43 $ 0.99 Diluted earnings per share $ 0.80 $ 0.45 $ 1.43 $ 0.98 (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 Six Months Ended June 30, June 30, (in thousands) 2024 2023 2024 2023 Stock options 979 2,107 1,116 1,732 Restricted stock units 452 606 440 469 Performance share units 311 318 326 279

Inventories (Tables)

Inventories (Tables)	6 Months Ended
Inventories (Tables)	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	The components of total inventories are summarized as follows: (in millions) June 30, December 31, Finished goods $ 379 $ 355 Work in process 117 102 Raw materials 561 561 Total inventories $ 1,057 $ 1,018

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
Goodwill and Other Intangible Assets (Tables)	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in the carrying value of goodwill by operating segment	This reallocation and changes in the carrying value of goodwill by reportable segment for the six months ended June 30, 2024 are as follows: (in millions) Water Applied Water Measurement and Control Solutions Water Solutions and Services Total Balance as of December 31, 2023 $ 2,434 $ 895 $ 1,739 $ 2,519 $ 7,587 Reallocation (287) — (64) 351 — Balance as of January 1, 2024 2,147 895 1,675 2,870 7,587 Activity in 2024 Foreign currency and other (32) (7) (17) (22) (78) Balance as of June 30, 2024 $ 2,115 $ 888 $ 1,658 $ 2,848 $ 7,509
Other Intangible Assets	Information regarding our other intangible assets is as follows: June 30, 2024 December 31, 2023 (in millions) Carrying Accumulated Net Carrying Accumulated Net Customer and distributor relationships $ 2,150 $ (525) $ 1,625 $ 2,172 $ (475) $ 1,697 Proprietary technology and patents 277 (146) 131 292 (141) 151 Trademarks 187 (104) 83 188 (96) 92 Software 598 (356) 242 598 (335) 263 Other 197 (69) 128 201 (41) 160 Indefinite-lived intangibles 165 — 165 166 — 166 Other Intangibles $ 3,574 $ (1,200) $ 2,374 $ 3,617 $ (1,088) $ 2,529

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
Derivative Financial Instruments (Tables)	Jun. 30, 2024
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 loss" ("OCL") within the Statements of Comprehensive Income: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Cash Flow Hedges Foreign Exchange Contracts Amount of (loss) gain recognized in OCL $ — $ (3) $ (3) $ 1 Amount of (gain) loss reclassified from OCL into Revenue — (1) — 2 Amount of (gain) loss reclassified from OCL into Cost of revenue (1) — — 2 Net Investment Hedges Cross-Currency Swaps Amount of gain (loss) recognized in OCL $ 21 $ (37) $ 61 $ (59) Amount of income recognized in Interest expense 8 8 16 15
Fair values of foreign exchange contracts	The fair values of our derivative contracts currently included in our hedging program were as follows: (in millions) June 30, December 31, Derivatives designated as hedging instruments Assets Cash Flow Hedges Prepaid and other current assets $ 1 $ — Net Investment Hedges Other non-current assets $ 40 $ 9 Liabilities Cash Flow Hedges Accrued and other current liabilities $ (4) $ — Net Investment Hedges Other non-current accrued liabilities $ (23) $ (54)

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	6 Months Ended
Accrued and Other Current Liabilities (Tables)	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued and Other Current Liabilities	The components of total Accrued and other current liabilities are as follows: (in millions) June 30, December 31, Compensation and other employee-benefits $ 339 $ 403 Customer-related liabilities 361 370 Accrued taxes 120 170 Lease liabilities 106 106 Accrued warranty costs 43 45 Other accrued liabilities 116 127 Total accrued and other current liabilities $ 1,085 $ 1,221
Supplier Finance Program	The table below provides changes in the confirmed obligations outstanding related to our supplier financing programs over each period: (in millions) 2024 Confirmed obligations outstanding – January 1 $ 176 Invoices confirmed $ 537 Confirmed invoices paid $ (461) Foreign currency and other $ (2) Confirmed obligations outstanding – June 30 $ 250

Credit Facilities and Debt (Tab

Credit Facilities and Debt (Tables)	6 Months Ended
Credit Facilities and Debt (Tables)	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Credit Facilities and Long-Term Debt	Total debt outstanding is summarized as follows: (in millions) June 30, December 31, 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 2024 to 2032 114 123 Term loan — 278 Debt issuance costs and unamortized discount (b) (16) (17) Total debt 1,998 2,284 Less: short-term borrowings and current maturities of long-term debt 17 16 Total long-term debt $ 1,981 $ 2,268 (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 $478 million and $482 million as of June 30, 2024 and December 31, 2023, respectively. The fair value of our Senior Notes due 2028 was $449 million and $453 million as of June 30, 2024 and December 31, 2023, respectively. The fair value of our Senior Notes due 2031 was $420 million and $429 million as of June 30, 2024 and December 31, 2023, respectively. The fair value of our Senior Notes due 2046 was $335 million and $349 million as of June 30, 2024 and December 31, 2023, 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.
Schedule of Other Assets	As of June 30, 2024, the gross and net amounts of those assets are included on the Consolidated Balance Sheets as follows: June 30, 2024 (in millions) Gross Net Property, plant, and equipment, net $ 70 $ 61 Receivables, net 3 3 Prepaid and other current assets 5 5 Other non-current assets 62 62 $ 140 $ 131

Post-retirement Benefit Plans (

Post-retirement Benefit Plans (Tables)	6 Months Ended
Post-retirement Benefit Plans (Tables)	Jun. 30, 2024
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 Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Domestic defined benefit pension plans: Service cost $ — $ 1 $ 1 $ 2 Interest cost 1 1 2 2 Expected return on plan assets (2) (2) (3) (3) Amortization of net actuarial loss 1 — 1 — Net periodic benefit cost $ — $ — $ 1 $ 1 International defined benefit pension plans: Service cost $ 3 $ 1 $ 5 $ 3 Interest cost 4 4 8 8 Expected return on plan assets (3) (3) (6) (6) Amortization of actuarial (gain) loss — — — (1) Net periodic benefit cost $ 4 $ 2 $ 7 $ 4 Total net periodic benefit cost $ 4 $ 2 $ 8 $ 5

Equity (Tables)

Equity (Tables)	6 Months Ended
Equity (Tables)	Jun. 30, 2024
Equity [Abstract]
Schedule of Stockholders Equity	The following table shows the changes in stockholders' equity for the six months ended June 30, 2024: (in millions) Common Capital in Excess of Par Value Retained Accumulated Other 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 income, 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 Net income — — 194 — — — 194 Other comprehensive income, net — — — — — — — Other activity — — — — — (1) (1) Dividends declared ($0.36 per share) — — (87) — — — (87) Stock incentive plan activity — 42 — — (3) — 39 Balance at June 30, 2024 $ 3 $ 8,660 $ 2,774 $ (345) $ (751) $ 7 $ 10,348 The following table shows the changes in stockholders' equity for the six months ended June 30, 2023: Common Capital in Excess of Par Value Retained Accumulated Other Treasury Stock Non-Controlling Interest Total Balance at January 1, 2023 $ 2 $ 2,134 $ 2,292 $ (226) $ (708) $ 9 $ 3,503 Net income — — 99 — — — 99 Other comprehensive loss, net — — — 35 — — 35 Other activity — — — — — 2 2 Dividends declared ($0.33 per share) — — (60) — — — (60) Stock incentive plan activity — 18 — — (8) — 10 Balance at March 31, 2023 $ 2 $ 2,152 $ 2,331 $ (191) $ (716) $ 11 $ 3,589 Net income — — 92 — — — 92 Other comprehensive income, net — — — (35) — — (35) Issuance of common stock 1 6,120 — — — — 6,121 Issuance of replacement equity awards — 160 — — — — 160 Dividends declared ($0.33 per share) — — (79) — — — (79) Stock incentive plan activity — 63 — — (1) — 62 Balance at June 30, 2023 $ 3 $ 8,495 $ 2,344 $ (226) $ (717) $ 11 $ 9,910

Share-Based Compensation Plans

Share-Based Compensation Plans (Tables)	6 Months Ended
Share-Based Compensation Plans (Tables)	Jun. 30, 2024
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 six months ended June 30, 2024 : Share units (in thousands) Weighted Weighted Average Aggregate Intrinsic Value (in millions) Outstanding at January 1, 2024 2,150 $ 69.34 5.6 $ 97 Granted 177 127.94 Exercised (1,038) 61.22 Forfeited and expired (88) 97.75 Outstanding at June 30, 2024 1,201 $ 82.91 6.7 $ 63 Options exercisable at June 30, 2024 859 $ 71.02 5.8 $ 55 Vested and expected to vest as of June 30, 2024 1,158 $ 81.65 6.1 $ 62
Stock option valuation assumptions	The following are weighted-average assumptions for 2024 grants: Volatility 26.70 % Risk-free interest rate 4.18 % Dividend yield 1.13 % Expected term (in years) 5.7 Weighted-average fair value / share $ 37.82
Summary of restricted stock activity	The following is a summary of restricted stock unit activity for the six months ended June 30, 2024 . 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 Outstanding at January 1, 2024 862 $ 98.49 Granted 271 128.80 Vested (398) 77.54 Forfeited (52) 100.84 Outstanding at June 30, 2024 683 $ 110.32
Summary of performance based share grants	The following is a summary of our ROIC and EBITDA grants for the six months ended June 30, 2024. 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 Outstanding at January 1, 2024 114 $ 97.70 Granted 26 127.94 Adjustment for Performance Condition Achieved (a) 16 102.51 Vested (64) 102.51 Forfeited (14) 96.31 Outstanding at June 30, 2024 78 $ 105.11 (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 six months ended June 30, 2024: Share units (in thousands) Weighted Outstanding at January 1, 2024 180 $ 103.52 Granted 52 181.80 Adjustment for Market Condition Achieved (a) (9) 117.67 Vested (39) 117.67 Forfeited (28) 102.69 Outstanding at June 30, 2024 156 $ 125.63 (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 2024 grants: Volatility 27.2 % Risk-free interest rate 4.33 %
Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option	The following is a summary of our Revenue performance share unit grants for the six months ended June 30, 2024: Share units (in thousands) Weighted Outstanding at January 1, 2024 66 $ 94.19 Granted 26 127.94 Forfeited (14) 96.31 Outstanding at June 30, 2024 78 $ 62.69

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Jun. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table provides the components of AOCL for the six months ended June 30, 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) Foreign currency translation adjustment 6 — — 6 Tax on foreign currency translation adjustment (5) — — (5) Income tax impact on amortization of post-retirement benefit plan items — — — — Reclassification of unrealized gain on foreign exchange agreements into cost of revenue — — (1) (1) Balance at June 30, 2024 $ (270) $ (71) $ (4) $ (345) The following table provides the components of AOCL for the six months ended June 30, 2023: (in millions) Foreign Currency Translation Post-retirement Benefit Plans Derivative Instruments Total Balance at January 1, 2023 $ (180) $ (41) $ (5) $ (226) Foreign currency translation adjustment 22 — — 22 Tax on foreign currency translation adjustment 5 — — 5 Amortization of actuarial gain on post-retirement benefit plans into other non-operating income, net — (1) — (1) Income tax impact on amortization of post-retirement benefit plan items — 1 — 1 Unrealized gain on derivative hedge agreements — — 4 4 Income tax benefit on unrealized gain on derivative hedge agreements — — (1) (1) Reclassification of unrealized loss on foreign exchange agreements into revenue — — 3 3 Reclassification of unrealized loss on foreign exchange agreements into cost of revenue — — 2 2 Balance at March 31, 2023 $ (153) $ (41) $ 3 $ (191) Foreign currency translation adjustment (38) — — (38) Tax on foreign currency translation adjustment 9 — — 9 Amortization of prior service cost and net actuarial gain on post-retirement benefit plans into other non-operating income, net — (1) — (1) Foreign currency translation adjustment for post-retirement benefit plans — (1) — (1) Unrealized loss on derivative hedge agreements — — (3) (3) Reclassification of unrealized gain on foreign exchange agreements into revenue — — (1) (1) Balance at June 30, 2023 $ (182) $ (43) $ (1) $ (226)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2024
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) 2024 2023 Warranty accrual – January 1 $ 63 $ 54 Net charges for product warranties in the period 17 13 Net Evoqua additions from acquisition — 10 Settlement of warranty claims (18) (13) Warranty accrual – June 30 $ 62 $ 64

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 30, 2024
Segment Reporting [Abstract]
Financial information for each reportable segment	The following table contains financial information for each reportable segment: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2024 2023 2024 2023 Revenue: Water Infrastructure $ 631 $ 519 $ 1,205 $ 929 Applied Water 456 478 892 931 Measurement and Control Solutions 482 384 944 762 Water Solutions and Services 600 341 1,161 548 Total $ 2,169 $ 1,722 $ 4,202 $ 3,170 Operating Income (Loss): Water Infrastructure $ 78 $ 70 $ 138 $ 116 Applied Water 71 84 132 167 Measurement and Control Solutions 79 29 149 55 Water Solutions and Services 47 26 97 44 Corporate and other (22) (90) (54) (132) Total operating income $ 253 $ 119 $ 462 $ 250 Interest expense $ 11 $ 12 $ 25 $ 21 Other non-operating income, net 4 7 10 11 Gain/(Loss) on sale of business 1 — (4) — Income before taxes $ 247 $ 114 $ 443 $ 240 Depreciation and Amortization: Water Infrastructure $ 37 $ 18 $ 68 $ 27 Applied Water 7 7 14 13 Measurement and Control Solutions 32 31 65 61 Water Solutions and Services 66 34 126 47 Corporate and other 3 2 6 4 Total $ 145 $ 92 $ 279 $ 152 Capital Expenditures: Water Infrastructure $ 9 $ 7 $ 17 $ 15 Applied Water 3 7 8 15 Measurement and Control Solutions 19 13 37 30 Water Solutions and Services 33 18 66 25 Regional selling locations (a) 5 5 11 11 Corporate and other 4 3 8 7 Total $ 73 $ 53 $ 147 $ 103 (a) Represents capital expenditures incurred by the Regional selling locations not allocated to the segments.

Recently Issued Accounting Pr_3

Recently Issued Accounting Pronouncements (Textuals) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Termination notice	30 days
Outstanding balance under supplier finance programs	$ 250	$ 176
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

Acquisitions and Divestitures_2

Acquisitions and Divestitures (Textuals) (Details) - USD ($) $ in Millions			9 Months Ended
	Jun. 15, 2023	May 24, 2023	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill				$ 7,509	$ 7,587
Disposed of by Sale \| Evoqua Carbon Reactivation And Slurry Operations
Business Acquisition [Line Items]
Proceeds from sale of business	$ 91
Evoqua Acquisition
Business Acquisition [Line Items]
Business Combination, Share Conversion Ratio		0.48
Business Acquisition, Percentage of Voting Interests Acquired		100%
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 6,121
Business Combination, Consideration Transferred		6,900
Business Combination, Consideration Transferred, Liabilities Paid		619
Business Combination, Consideration Transferred, Equity Interest Issued And Issuable, Replacement Equity Awards		160
Receivables, net		320
Receivables, net		329
Accounts Receivable, Allowance for Credit Loss		9
Goodwill		4,801
Stock Issued During Period, Shares, Acquisitions			58,779,096
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount		$ 56
Evoqua Acquisition \| Equity Option
Business Acquisition [Line Items]
Stock Issued During Period, Shares, Acquisitions		2,000,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount				1
Evoqua Acquisition \| Performance share units
Business Acquisition [Line Items]
Stock Issued During Period, Shares, Acquisitions		707,000
Evoqua Acquisition \| Restricted Stock Units (RSUs)
Business Acquisition [Line Items]
Stock Issued During Period, Shares, Acquisitions		330,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount				$ 5
Evoqua Acquisition \| Legacy Evoqua Stockholders
Business Acquisition [Line Items]
Subsidiary, Ownership Percentage, Noncontrolling Owner		25%
Evoqua Acquisition \| Legacy Xylem Stockholders
Business Acquisition [Line Items]
Subsidiary, Ownership Percentage, Parent		75%

Acquisitions and Divestitures_3

Acquisitions and Divestitures (Purchase Price Allocation) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	May 24, 2023
Business Acquisition [Line Items]
Goodwill	$ 7,509	$ 7,587
Evoqua Acquisition
Business Acquisition [Line Items]
Cash and cash equivalents			$ 143
Receivables(a)			430
Inventories			258
Prepaid and other current assets			78
Assets held for sale			8
Property, plant and equipment, net			508
Goodwill			4,801
Other intangible assets, net			1,769
Other non-current assets			180
Non-current assets held for sale			85
Accounts payable			(210)
Short-term borrowings and current maturities of long-term debt			(166)
Accrued and other current liabilities			(357)
Liabilities held for sale			(1)
Long-term debt			(111)
Other non-current accrued liabilities			(120)
Deferred income tax liabilities			(392)
Non-current liabilities held for sale			(3)
Total			6,900
Receivables, net			320
Contract assets			$ 110

Acquisitions and Divestitures_4

Acquisitions and Divestitures (Summary of Intangible Assts Acquired) (Details) - Evoqua Acquisition $ in Millions	May 24, 2023 USD ($)
Business Acquisition [Line Items]
Useful Life Weighted Average (in years)	15 years 4 months 24 days
Fair Value (in millions)	$ 1,769
Trademarks
Business Acquisition [Line Items]
Useful Life (in years)	6 years
Useful Life Weighted Average (in years)	6 years
Fair Value (in millions)	$ 50
Proprietary technology and patents
Business Acquisition [Line Items]
Useful Life Weighted Average (in years)	7 years 1 month 6 days
Fair Value (in millions)	$ 120
Proprietary technology and patents \| Minimum
Business Acquisition [Line Items]
Useful Life (in years)	4 years
Proprietary technology and patents \| Maximum
Business Acquisition [Line Items]
Useful Life (in years)	9 years
Customer and distributor relationships
Business Acquisition [Line Items]
Useful Life Weighted Average (in years)	17 years 10 months 24 days
Fair Value (in millions)	$ 1,395
Customer and distributor relationships \| Minimum
Business Acquisition [Line Items]
Useful Life (in years)	6 years
Customer and distributor relationships \| Maximum
Business Acquisition [Line Items]
Useful Life (in years)	20 years
Backlog
Business Acquisition [Line Items]
Useful Life Weighted Average (in years)	5 years 4 months 24 days
Fair Value (in millions)	$ 120
Backlog \| Minimum
Business Acquisition [Line Items]
Useful Life (in years)	1 year
Backlog \| Maximum
Business Acquisition [Line Items]
Useful Life (in years)	10 years
Permits
Business Acquisition [Line Items]
Useful Life (in years)	8 years
Useful Life Weighted Average (in years)	8 years
Fair Value (in millions)	$ 70
Software
Business Acquisition [Line Items]
Useful Life Weighted Average (in years)	2 years 3 months 18 days
Fair Value (in millions)	$ 14
Software \| Minimum
Business Acquisition [Line Items]
Useful Life (in years)	1 year
Software \| Maximum
Business Acquisition [Line Items]
Useful Life (in years)	13 years

Acquisitions and Divestitures_5

Acquisitions and Divestitures (Summary of Pro Forma Information) (Details) - Evoqua Acquisition - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Revenue	$ 2,025	$ 3,952
Business Acquisition, Pro Forma Net Income (Loss)	$ 63	$ 170

Acquisitions and Divestitures_6

Acquisitions and Divestitures (Details) - Evoqua Acquisition - USD ($) $ in Millions		9 Months Ended
	May 24, 2023	Sep. 30, 2023
Business Acquisition [Line Items]
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 6,121
Business Combination, Consideration Transferred, Equity Interest Issued And Issuable, Replacement Equity Awards	160
Business Combination, Consideration Transferred, Liabilities Paid	619
Business Combination, Consideration Transferred	$ 6,900
Stock Issued During Period, Shares, Acquisitions		58,779,096

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 2,037	$ 1,637	$ 3,947	$ 3,020
Lease Revenue	132	85	255	150
Total	2,169	1,722	4,202	3,170
Water Infrastructure \| United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	225	174	429	306
Water Infrastructure \| Western Europe
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	225	198	436	366
Water Infrastructure \| Emerging Markets
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	122	99	236	172
Water Infrastructure \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	59	48	104	85
Water Infrastructure \| Transport
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	371	351	708	673
Water Infrastructure \| Treatment
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	260	168	497	256
Applied Water \| United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	239	248	471	492
Applied Water \| Western Europe
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	102	105	201	209
Applied Water \| Emerging Markets
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	84	86	157	159
Applied Water \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	31	39	63	71
Applied Water \| Building Solutions
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	255	257	495	510
Applied Water \| Industrial Water
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	201	221	397	421
Measurement and Control Solutions \| United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	329	244	634	481
Measurement and Control Solutions \| Western Europe
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	77	66	159	141
Measurement and Control Solutions \| Emerging Markets
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	47	50	91	96
Measurement and Control Solutions \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	29	24	60	44
Measurement and Control Solutions \| Smart Metering and Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	393	296	770	587
Measurement and Control Solutions \| Analytics
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	89	88	174	175
Water Solutions and Services
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	468	256	906	398
Water Solutions and Services \| United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	358	164	693	228
Water Solutions and Services \| Western Europe
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	24	27	47	51
Water Solutions and Services \| Emerging Markets
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	41	36	83	70
Water Solutions and Services \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 45	$ 29	$ 83	$ 49

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	6 Months Ended
Revenue (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Change in Contract with Customer, Asset [Abstract]
Beginning balance	$ 263	$ 151
Opening balance from the acquisition of Evoqua		110
Additions, net	264	85
Billings transferred to accounts receivable	(239)	(73)
Foreign currency and other	(3)	1
Ending balance	274	285
Change in Contract with Customer, Liability [Abstract]
Beginning balance	315	183
Opening balance from the acquisition of Evoqua		107
Additions, net	191	94
Revenue recognized from opening balance	(201)	(80)
Foreign currency and other	(6)	(5)
Ending balance	$ 299	$ 299

Revenue (Narrative) (Details)

Revenue (Narrative) (Details) $ in Millions	Jun. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 1,400
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Remaining performance obligation	1,400
Evoqua Acquisition
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	804
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Remaining performance obligation	$ 804
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Expected timing of recognition	60 months

Restructuring Charges (Textuals

Restructuring Charges (Textuals) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 23		$ 28	$ 32	$ 34
Asset Impairment Charges	0		0	1	2
Corporate and other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0		$ 22	2	$ 22
2023 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring cost incurred	1	$ 6				$ 71
Impairment of intangible assets	2
2023 Plan \| Corporate and other
Restructuring Cost and Reserve [Line Items]
Restructuring cost incurred	0	1				$ 35
2024 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring cost incurred	22	3
2024 Plan \| Corporate and other
Restructuring Cost and Reserve [Line Items]
Restructuring cost incurred	$ 0	$ 0
Asset Impairment Charges				$ 1

Restructuring Charges (Restruct

Restructuring Charges (Restructuring Charges) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Impairment Charge
Severance and other charges	$ 8	$ 29	$ 17	$ 35
Asset impairment	15	0	16	0
Reversal of restructuring accruals	0	(1)	(1)	(1)
Total restructuring costs	23	28	32	34
Asset impairment charges	0	0	1	2
Total restructuring and asset impairment charges	23	28	33	36
Corporate and other
Restructuring Cost and Impairment Charge
Total restructuring costs	0	22	2	22
Water Infrastructure \| Operating Segments
Restructuring Cost and Impairment Charge
Total restructuring costs	1	1	6	3
Applied Water \| Operating Segments
Restructuring Cost and Impairment Charge
Total restructuring costs	0	1	1	1
Measurement and Control Solutions \| Operating Segments
Restructuring Cost and Impairment Charge
Total restructuring costs	0	0	0	6
Water Solutions and Services \| Operating Segments
Restructuring Cost and Impairment Charge
Total restructuring costs	$ 22	$ 4	$ 24	$ 4

Restructuring Charges (Accrual

Restructuring Charges (Accrual Rollfoward) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Reserve [Roll Forward]
Restructuring accruals - January 1				$ 24	$ 10
Restructuring costs, net		$ 23	$ 28	32	34
Cash payments				(18)	(9)
Asset impairment				(16)	0
Stock based compensation expense included within AOCL				(2)	(14)
Foreign currency and other				(1)	(1)
Restructuring accruals - June 30		19	20	19	20
Regional selling locations
Restructuring Reserve [Roll Forward]
Restructuring accruals - June 30		3	2	3	2
Corporate and other
Restructuring Reserve [Roll Forward]
Restructuring costs, net		0	22	2	22
Restructuring accruals - June 30		2	9	2	9
Water Infrastructure \| Operating Segments
Restructuring Reserve [Roll Forward]
Restructuring costs, net		1	1	6	3
Restructuring accruals - June 30		2	2	2	2
Applied Water \| Operating Segments
Restructuring Reserve [Roll Forward]
Restructuring costs, net		0	1	1	1
Restructuring accruals - June 30		1	0	1	0
Measurement and Control Solutions \| Operating Segments
Restructuring Reserve [Roll Forward]
Restructuring costs, net		0	0	0	6
Restructuring accruals - June 30		5	3	5	3
Water Solutions and Services \| Operating Segments
Restructuring Reserve [Roll Forward]
Restructuring costs, net		22	4	24	4
Restructuring accruals - June 30	[1]	$ 6	$ 4	$ 6	$ 4

[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.

Restructuring Charges (Estimate

Restructuring Charges (Estimated Restructuring Costs) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
2024 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs	$ 27
Restructuring costs incurred during period	22	$ 3
Total expected costs remaining	2
2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs	83
Restructuring costs incurred during period	1	6	$ 71
Total expected costs remaining	5
Operating Segments \| Water Infrastructure \| 2024 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs	2
Restructuring costs incurred during period	0	0
Total expected costs remaining	2
Operating Segments \| Water Infrastructure \| 2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs	20
Restructuring costs incurred during period	1	5	13
Total expected costs remaining	1
Operating Segments \| Applied Water \| 2024 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 \| Applied Water \| 2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs	10
Restructuring costs incurred during period	0	0	6
Total expected costs remaining	4
Operating Segments \| Measurement and Control Solutions \| 2024 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs	0
Restructuring costs incurred during period	0	0
Total expected costs remaining	0
Operating Segments \| Measurement and Control Solutions \| 2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs	10
Restructuring costs incurred during period	0	0	10
Total expected costs remaining	0
Operating Segments \| Water Solutions and Services \| 2024 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs	24
Restructuring costs incurred during period	22	2
Total expected costs remaining	0
Operating Segments \| Water Solutions and Services \| 2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs	7
Restructuring costs incurred during period	0	0	7
Total expected costs remaining	0
Corporate and other \| 2024 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs	0
Restructuring costs incurred during period	0	0
Total expected costs remaining	0
Corporate and other \| 2023 Plan
Restructuring Cost and Reserve [Line Items]
Total expected costs	36
Restructuring costs incurred during period	0	$ 1	$ 35
Total expected costs remaining	$ 0

Income Taxes (Textuals) (Detail

Income Taxes (Textuals) (Details) kr in Millions, $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 SEK (kr)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Income Tax Disclosure [Abstract]
Income tax provision			$ 53	$ 22	$ 96	$ 49
Effective tax rate			21.40%	19.10%	21.60%	20.50%
Assessment for tax, penalties and interest	$ 79	kr 837

Earnings Per Share (Calculation

Earnings Per Share (Calculations for EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic and diluted net earnings per share:
Net income attributable to Xylem (in usd)		$ 194	$ 92	$ 347	$ 191
Shares
Weighted average common shares outstanding (in shares)		242,538	205,505	242,182	192,938
Add: Participating securities (in shares)	[1]	34	34	31	29
Weighted average common shares outstanding - Basic (in shares)		242,572	205,539	242,213	192,967
Plus incremental shares from assumed conversions:
Weighted average common shares outstanding - Diluted (in shares)		243,538	206,740	243,279	194,029
Basic earnings per share (usd per share)		$ 0.80	$ 0.45	$ 1.43	$ 0.99
Diluted earnings per share (usd per share)		$ 0.80	$ 0.45	$ 1.43	$ 0.98
Stock options
Plus incremental shares from assumed conversions:
Dilutive effect of stock options (in shares)	[2]	576	872	651	747
Restricted stock units
Plus incremental shares from assumed conversions:
Dilutive effect of stock options (in shares)	[2]	390	329	415	315

[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. 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.

Earnings Per Share (Summary of

Earnings Per Share (Summary of Antidilutive Securities) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Stock options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	979	2,107	1,116	1,732
Restricted stock units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	452	606	440	469
Performance share units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	311	318	326	279

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventories
Finished goods	$ 379	$ 355
Work in process	117	102
Raw materials	561	561
Total inventories	$ 1,057	$ 1,018

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Goodwill Rollforward) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Changes in the carrying value of goodwill by operating segment
Beginning balance	$ 7,587
Foreign currency and other	(78)
Ending balance	7,509
Goodwill Adjustment Due To Segment Reallocation
Changes in the carrying value of goodwill by operating segment
Reallocation		$ 0
Goodwill Adjustment Due To Segment Reallocation, Adjusted Balance
Changes in the carrying value of goodwill by operating segment
Beginning balance	7,587
Water Infrastructure
Changes in the carrying value of goodwill by operating segment
Beginning balance	2,434
Foreign currency and other	(32)
Ending balance	2,115
Water Infrastructure \| Goodwill Adjustment Due To Segment Reallocation
Changes in the carrying value of goodwill by operating segment
Reallocation		(287)
Water Infrastructure \| Goodwill Adjustment Due To Segment Reallocation, Adjusted Balance
Changes in the carrying value of goodwill by operating segment
Beginning balance	2,147
Applied Water
Changes in the carrying value of goodwill by operating segment
Beginning balance	895
Foreign currency and other	(7)
Ending balance	888
Applied Water \| Goodwill Adjustment Due To Segment Reallocation
Changes in the carrying value of goodwill by operating segment
Reallocation		0
Applied Water \| Goodwill Adjustment Due To Segment Reallocation, Adjusted Balance
Changes in the carrying value of goodwill by operating segment
Beginning balance	895
Measurement and Control Solutions
Changes in the carrying value of goodwill by operating segment
Beginning balance	1,739
Foreign currency and other	(17)
Ending balance	1,658
Measurement and Control Solutions \| Goodwill Adjustment Due To Segment Reallocation
Changes in the carrying value of goodwill by operating segment
Reallocation		(64)
Measurement and Control Solutions \| Goodwill Adjustment Due To Segment Reallocation, Adjusted Balance
Changes in the carrying value of goodwill by operating segment
Beginning balance	1,675
Water Solutions and Services
Changes in the carrying value of goodwill by operating segment
Beginning balance	2,519
Foreign currency and other	(22)
Ending balance	2,848
Water Solutions and Services \| Goodwill Adjustment Due To Segment Reallocation
Changes in the carrying value of goodwill by operating segment
Reallocation		$ 351
Water Solutions and Services \| Goodwill Adjustment Due To Segment Reallocation, Adjusted Balance
Changes in the carrying value of goodwill by operating segment
Beginning balance	$ 2,870

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets (Summary of Intangible Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Other Intangible Assets
Accumulated Amortization	$ (1,200)	$ (1,088)
Other Intangibles, Carrying Amount	3,574	3,617
Other Intangibles, Net Intangibles	2,374	2,529
Customer and distributor relationships
Goodwill and Other Intangible Assets
Carrying Amount	2,150	2,172
Accumulated Amortization	(525)	(475)
Net Intangibles	1,625	1,697
Proprietary technology and patents
Goodwill and Other Intangible Assets
Carrying Amount	277	292
Accumulated Amortization	(146)	(141)
Net Intangibles	131	151
Trademarks
Goodwill and Other Intangible Assets
Carrying Amount	187	188
Accumulated Amortization	(104)	(96)
Net Intangibles	83	92
Software
Goodwill and Other Intangible Assets
Carrying Amount	598	598
Accumulated Amortization	(356)	(335)
Net Intangibles	242	263
Other
Goodwill and Other Intangible Assets
Carrying Amount	197	201
Accumulated Amortization	(69)	(41)
Net Intangibles	128	160
Indefinite-lived intangibles
Goodwill and Other Intangible Assets
Accumulated Amortization	0	0
Indefinite-lived intangibles	$ 165	$ 166

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets (Textual) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Finite-Lived Intangible Assets
Amortization expense related to finite-lived intangible assets	$ 83	$ 51	$ 156	$ 83
Asset Impairment Charges	0	$ 0	$ 1	$ 2
Software
Finite-Lived Intangible Assets
Asset Impairment Charges	$ 2

Derivative Financial Instrume_3

Derivative Financial Instruments (Effect of Deriative Instruments on Income Statement and Statement of Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Financial Instruments
Amount of gain (loss) recognized in OCI	$ 0	$ 3	$ 3	$ (1)
Amount of gain reclassified from OCI into revenue	(2,169)	(1,722)	(4,202)	(3,170)
Reclassification out of Accumulated Other Comprehensive Income \| Foreign Exchange Contract \| Cash Flow Hedges
Derivative Financial Instruments
Amount of gain reclassified from OCI into revenue	0	(1)	0	2
Amount of (gain) loss reclassified from OCI into cost of revenue	(1)	0	0	2
Cash Flow Hedging \| Foreign Exchange Contract \| Cash Flow Hedges
Derivative Financial Instruments
Amount of gain (loss) recognized in OCI	0	(3)	(3)	1
Cash Flow Hedging \| Cross Currency Swaps
Derivative Financial Instruments
Amount of gain (loss) recognized in OCI	21	(37)	(61)	(59)
Interest Expense \| Cash Flow Hedging \| Cross Currency Swaps
Derivative Financial Instruments
Amount of gain (loss) recognized in OCI	$ 8	$ 8	$ 16	$ 15

Derivative Financial Instrume_4

Derivative Financial Instruments (Balance Sheet Location of Derivative Instruments) (Details) - Derivatives designated as hedging instruments - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Prepaid and other current assets
Derivatives, Fair Value
Assets	$ 1	$ 0
Other non-current assets
Derivatives, Fair Value
Assets	40	9
Other non-current accrued liabilities
Derivatives, Fair Value
Liabilities	(23)	(54)
Cash Flow Hedges \| Accrued and other current liabilities
Derivatives, Fair Value
Liabilities	$ (4)	$ 0

Derivative Financial Instrume_5

Derivative Financial Instruments (Textual) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Dec. 31, 2023
Derivative [Line Items]
Net losses expected to be reclassified in next 12 months		$ 4
Foreign Exchange Contract
Derivative [Line Items]
Notional amount		323	$ 29
Interest Rate Swap
Derivative [Line Items]
Proceeds from Sales of Assets, Investing Activities	$ 38
Derivatives designated as hedging instruments \| Sell USD Buy EUR
Derivative [Line Items]
Notional amount		115
Derivatives designated as hedging instruments \| Buy KR Sell EUR
Derivative [Line Items]
Notional amount		96
Derivatives designated as hedging instruments \| Sell GBP Buy EUR
Derivative [Line Items]
Notional amount		41
Derivatives designated as hedging instruments \| Buy USD Sell CNY
Derivative [Line Items]
Notional amount			19
Derivatives designated as hedging instruments \| Buy PLN Sell EUR
Derivative [Line Items]
Notional amount		18
Derivatives designated as hedging instruments \| Buy USD Sell CDN
Derivative [Line Items]
Notional amount		3	10
Derivatives designated as hedging instruments \| Sell CNY Buy EUR
Derivative [Line Items]
Notional amount		22
Derivatives designated as hedging instruments \| Buy AUD Sell EUR
Derivative [Line Items]
Notional amount		15
Derivatives designated as hedging instruments \| Cross Currency Swaps
Derivative [Line Items]
Notional amount		1,626	$ 1,691
Derivatives designated as hedging instruments \| Sell AUD Buy EUR
Derivative [Line Items]
Notional amount		$ 13

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Accrued and Other Current Liabilities
Compensation and other employee-benefits	$ 339	$ 403
Customer-related liabilities	361	370
Accrued taxes	120	170
Lease liabilities	106	106
Accrued warranty costs	43	45
Other accrued liabilities	116	127
Total accrued and other current liabilities	1,085	1,221
Outstanding balance under supplier finance programs	$ 250	$ 176

Accrued and Other Current Lia_4

Accrued and Other Current Liabilities (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Supplier Finance Program, Obligation [Roll Forward]
Confirmed obligations outstanding – January 1	$ 176
Invoices confirmed	537
Confirmed invoices paid	(461)
Foreign currency and other	(2)
Confirmed obligations outstanding – June 30	$ 250

Credit Facilities and Debt (Sum

Credit Facilities and Debt (Summary of Debt Outstanding) (Details) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Credit Facilities and Long-Term Debt :
Debt issuance costs and unamortized discount	[1]	$ (16)	$ (17)
Total debt		1,998	2,284
Less: short-term borrowings and current maturities of long-term debt		17	16
Long-term debt		$ 1,981	2,268
Senior Notes due 2026
Credit Facilities and Long-Term Debt :
Interest rate		3.25%
Long-term debt, fair value		$ 478	482
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		$ 449	453
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		$ 420	429
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		$ 335	349
Senior Notes due 2046 \| Senior Loans
Credit Facilities and Long-Term Debt :
Senior Notes Due	[2]	400	400
Equipment Financing \| Secured Debt
Credit Facilities and Long-Term Debt :
Senior Notes Due		114	123
Term loan \| Secured Debt
Credit Facilities and Long-Term Debt :
Senior Notes Due		$ 0	$ 278

[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. 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 $478 million and $482 million as of June 30, 2024 and December 31, 2023, respectively. The fair value of our Senior Notes due 2028 was $449 million and $453 million as of June 30, 2024 and December 31, 2023, respectively. The fair value of our Senior Notes due 2031 was $420 million and $429 million as of June 30, 2024 and December 31, 2023, respectively. The fair value of our Senior Notes due 2046 was $335 million and $349 million as of June 30, 2024 and December 31, 2023, respectively.

Credit Facilities and Debt (Tex

Credit Facilities and Debt (Textuals) (Details)

6 Months Ended

Apr. 19, 2024 USD ($)

Apr. 19, 2024 EUR (€)

Mar. 01, 2023 USD ($) Rate

Jun. 26, 2020 USD ($)

Sep. 20, 2011

Jun. 30, 2024 USD ($)

May 24, 2023 USD ($)

May 09, 2023 USD ($)

May 09, 2023 EUR (€)

Jun. 03, 2019 EUR (€)

Mar. 05, 2019 USD ($)

Jan. 26, 2018 USD ($)

Oct. 11, 2016 USD ($)

Evoqua Acquisition

Debt Instrument

Securitization Facility due 2024

$ 150,000,000

Senior Notes

Debt Instrument

Redemption price percentage

101%

Line of Credit

Debt Instrument

Face amount

$ 535,000,000

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%

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

Term of debt

5 years

Debt instrument aggregate principal amount

$ 1,000,000,000

$ 800,000,000

Permitted increases in Credit Facility borrowing base

200,000,000

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%

Maximum leverage ratio, before acquisition | Rate

350%

ING Bank Term Loan Facility | Line of Credit

Debt Instrument

Face amount

$ 270,000,000

€ 250,000,000

Extinguishment of Debt, Amount

$ 268,000,000

€ 250,000,000

US Dollar Commercial Paper Program

Debt Instrument

Face amount

$ 600,000,000

Euro Commercial Paper Program

Debt Instrument

Face amount | €

€ 500,000,000

Credit Facilities and Debt (Det

Credit Facilities and Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	May 24, 2023
Gross
Prepaid and other current assets	$ 234	$ 230
Net
Property, plant, and equipment, net	1,144	1,169
Prepaid and other current assets	234	230
Other non-current assets	957	943
Total assets	15,765	$ 16,112
Evoqua Acquisition
Gross
Receivables, net			$ 329
Net
Receivables, net			$ 320
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	62
Gross assets	140
Net
Property, plant, and equipment, net	61
Receivables, net	3
Prepaid and other current assets	5
Other non-current assets	62
Total assets	$ 131

Post-retirement Benefit Plans_2

Post-retirement Benefit Plans (Summary of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net periodic benefit cost:
Net periodic benefit cost	$ 4	$ 2	$ 8	$ 5
Domestic defined benefit pension plans
Net periodic benefit cost:
Service cost	0	1	1	2
Interest cost	1	1	2	2
Expected return on plan assets	(2)	(2)	(3)	(3)
Amortization of net actuarial loss	1		1
Net periodic benefit cost	0		1	1
International defined benefit pension plans
Net periodic benefit cost:
Service cost	3	1	5	3
Interest cost	4	4	8	8
Expected return on plan assets	(3)	(3)	(6)	(6)
Amortization of net actuarial loss	0		0	(1)
Net periodic benefit cost	$ 4	$ 2	$ 7	$ 4

Post-retirement Benefit Plans_3

Post-retirement Benefit Plans (Textuals) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block
Employer contribution to defined benefit plan			$ 7	$ 9
Maximum
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block
Other postretirement benefit expense	$ 1	$ 1	1	1
Amortization of net actuarial loss	1	$ 1	1	$ 1
Additional contributions	20		20
Minimum
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block
Additional contributions	$ 16		$ 16

Equity - Summary of Shareholder

Equity - Summary of Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2024	Jun. 30, 2023
Dividends declared per share (usd per share)		$ 0.36	$ 0.36		$ 0.33	$ 0.33
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 10,203	$ 10,176		$ 3,589	$ 3,503		$ 10,176	$ 3,503
Net income	194	153		92	99		347	191
Other comprehensive income (loss), net	0	(76)		(35)	35
Other activity	(1)	(2)			2
Dividends declared	(87)	(87)		(79)	(60)
Stock incentive plan activity	39	39		62	10
Ending balance	10,348	10,203	$ 10,176	9,910	3,589	$ 3,503	10,348	9,910
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	3	3		2	2		3	2
Ending balance	3	3	3	3	2	2	3	3
Capital in Excess of Par Value
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	8,618	8,564		2,152	2,134		8,564	2,134
Stock incentive plan activity	42	54		63	18
Ending balance	8,660	8,618	8,564	8,495	2,152	2,134	8,660	8,495
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	2,667	2,601		2,331	2,292		2,601	2,292
Net income	194	153		92	99
Other activity					0
Dividends declared	(87)	(87)		(79)	(60)
Ending balance	2,774	2,667	2,601	2,344	2,331	2,292	2,774	2,344
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(345)	(269)		(191)	(226)		(269)	(226)
Other comprehensive income (loss), net	0	(76)		(35)	35
Ending balance	(345)	(345)	(269)	(226)	(191)	(226)	(345)	(226)
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(748)	(733)		(716)	(708)		(733)	(708)
Stock incentive plan activity	(3)	(15)		(1)	(8)
Ending balance	(751)	(748)	(733)	(717)	(716)	(708)	(751)	(717)
Non-Controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	8	10		11	9		10	9
Other activity	(1)	(2)			2
Ending balance	$ 7	$ 8	$ 10	$ 11	$ 11	$ 9	$ 7	$ 11

Share-Based Compensation Plan_2

Share-Based Compensation Plans (Textuals) (Details) - USD ($) shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
	May 24, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation		$ 13	$ 16	$ 31	$ 27
Proceeds from exercise of employee stock options				63	$ 40
Additional shares registered for issuance (in shares)	2.7
Commons tock available for future awards (in shares)	5.3
Total intrinsic value of options exercised				71
Stock options
Share-based Compensation Arrangement by Share-based Payment Award
Unamortized compensation expense		8		$ 8
Weighted average period				2 years 1 month 6 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award
Unamortized compensation expense		50		$ 50
Weighted average period				2 years 1 month 6 days
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award
Unamortized compensation expense		$ 19		$ 19
Weighted average period				2 years 2 months 12 days

Share-Based Compensation Plan_3

Share-Based Compensation Plans (Summary of Stock Options Grant) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Summary of the changes in outstanding stock options
Outstanding, beginning of period (in shares)	2,150	2,150
Granted (in shares)		177
Exercised (in shares)		(1,038)
Outstanding, end of period (in shares)		1,201
Options exercisable, ending of period (in shares)		859
Vested and expected, end of period (in shares)		1,158
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)	$ 69.34	$ 69.34
Granted (in usd per share)		127.94
Exercised (in usd per share)		61.22
Outstanding, end of period (in usd per share)		82.91
Options exercisable, end of period (in usd per share)		71.02
Vested and expected, end of period (in usd per share)		$ 81.65
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Remaining Contractual Term [Roll Forward]
Outstanding, weighted average remaining contractual term	5 years 7 months 6 days	6 years 8 months 12 days
Options exercisable, end of period		5 years 9 months 18 days
Vested and expected to vest, end of period		6 years 1 month 6 days
Aggregate intrinsic value, outstanding		$ 63	$ 97
Aggregate intrinsic value, exercisable		55
Aggregate intrinsic value, vested and expected to vest		$ 62
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period		88
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price		$ 97.75

Share-Based Compensation Plan_4

Share-Based Compensation Plans (Stock Option Fair Value Assumptions) (Details) - Stock options	6 Months Ended
	Jun. 30, 2024 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	26.70%
Risk-free interest rate	4.18%
Dividend yield	1.13%
Expected term (in years)	5 years 8 months 12 days
Weighted-average fair value / share (in usd per share)	$ 37.82

Share-Based Compensation Plan_5

Share-Based Compensation Plans (Summary of Restricted Stock Unit Grants) (Details) - Restricted stock units shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares
Outstanding, beginning of period (in shares) \| shares	862
Granted (in shares) \| shares	271
Vested (in shares) \| shares	(398)
Forfeited (in shares) \| shares	(52)
Outstanding, end of period (in shares) \| shares	683
Weighted Average Grant Date Fair Value Per Share
Outstanding, beginning of period (in usd per share) \| $ / shares	$ 98.49
Granted (in usd per share) \| $ / shares	128.80
Vested (in usd per share) \| $ / shares	77.54
Forfeited (in usd per share) \| $ / shares	100.84
Outstanding, end of period (in usd per share) \| $ / shares	$ 110.32

Share-Based Compensation Plan_6

Share-Based Compensation Plans Share-Based Compensation Plans (Summary of ROIC Performance Share Unit Grants) (Details) - Return on Invested Capital Performance-Based Shares - Performance share units shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Summary of performance share activity
Outstanding, beginning of period (in shares) \| shares	114
Granted (in shares) \| shares	26
Adjustment for Condition Achieved (in shares) \| shares	16
Vested (in shares) \| shares	(64)
Forfeited (in shares) \| shares	(14)
Outstanding, end of period (in shares) \| shares	78
Weighted Average Grant Date Fair Value Per Share
Outstanding, beginning of period (in usd per share) \| $ / shares	$ 97.70
Granted (in usd per share) \| $ / shares	127.94
Adjustment for Condition Achieved (in usd per share) \| $ / shares	102.51
Vested (in usd per share) \| $ / shares	102.51
Forfeited (in usd per share) \| $ / shares	96.31
Outstanding, end of period (in usd per share) \| $ / shares	$ 105.11

Share-Based Compensation Plan_7

Share-Based Compensation Plans (Summary of Performance-Based Share Grants) (Details) - Total Shareholder Return Performance-Based Shares - Performance share units shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Summary of performance share activity
Outstanding, beginning of period (in shares) \| shares	180
Granted (in shares) \| shares	52
Adjustment for Condition Achieved (in shares) \| shares	(9)
Vested (in shares) \| shares	(39)
Forfeited (in shares) \| shares	(28)
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	$ 103.52
Granted (in usd per share) \| $ / shares	181.80
Adjustment for Condition Achieved (in usd per share) \| $ / shares	117.67
Vested (in usd per share) \| $ / shares	117.67
Forfeited (in usd per share) \| $ / shares	102.69
Outstanding, end of period (in usd per share) \| $ / shares	$ 125.63

Share-Based Compensation Plan_8

Share-Based Compensation Plans (TSR Performance-Based Shares Fair Value Assumptions) (Details) - Total Shareholder Return Performance-Based Shares - Performance share units	6 Months Ended
	Jun. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	27.20%
Risk-free interest rate	4.33%

Share-Based Compensation Plan_9

Share-Based Compensation Plans - Summary of REV Performance Share Unit Grants (Details) - REV Performance Shares shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares
Outstanding, beginning of period (in shares) \| shares	66
Shares Awarded (in shares) \| shares	26
Forfeited \| shares	(14)
Outstanding, end of period (in shares) \| shares	78
Weighted Average Grant Date Fair Value Per Share
Outstanding, beginning of period (in usd per share) \| $ / shares	$ 94.19
Granted (in usd per share) \| $ / shares	127.94
Forfeited \| $ / shares	96.31
Outstanding, end of period (in usd per share) \| $ / shares	$ 62.69

Capital Stock (Textuals) (Detai

Capital Stock (Textuals) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Aug. 24, 2015
Share Repurchase Programs
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares) (less than)	0.1	0.1	0.1	0.1
Shares repurchased	$ 3	$ 1	$ 18	$ 9
2015 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount					$ 500
Remaining authorized amount of repurchase	$ 182		$ 182
Settlement of Employee Tax Withholding Obligations
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares) (less than)	0.1	0.1	0.1	0.1
Shares repurchased	$ 3	$ 1	$ 18	$ 9

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		$ (269)			$ (269)
Foreign currency translation adjustment	$ 6		$ (38)		(59)	$ (16)
Foreign currency translation adjustment	0		(1)		2	(1)
Ending balance	(345)				(345)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(271)	(196)	(153)	$ (180)	(196)	(180)
Foreign currency translation adjustment	6	(65)	(38)	22
Tax on foreign currency translation adjustment	(5)	(10)	9	5
Ending balance	(270)	(271)	(182)	(153)	(270)	(182)
Post-retirement Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(71)	(72)	(41)	(41)	(72)	(41)
Income tax impact on amortization of post-retirement benefit plan items	0	(1)		1
Foreign currency translation adjustment			2
Foreign currency translation adjustment for post-retirement benefit plans			(1)
Ending balance	(71)	(71)	(43)	(41)	(71)	(43)
Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(3)	(1)	3	(5)	(1)	(5)
Unrealized loss on derivative hedge agreements		(3)	(3)	4
Income tax benefit on unrealized gain on derivative hedge agreements				(1)
Ending balance	(4)	(3)	(1)	3	(4)	(1)
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(345)	(269)	(191)	(226)	(269)	(226)
Foreign currency translation adjustment	6	(65)	(38)	22
Tax on foreign currency translation adjustment	(5)	(10)	9	5
Income tax impact on amortization of post-retirement benefit plan items	0	(1)		1
Foreign currency translation adjustment			2
Foreign currency translation adjustment for post-retirement benefit plans			(1)
Unrealized loss on derivative hedge agreements		(3)	(3)	4
Income tax benefit on unrealized gain on derivative hedge agreements				(1)
Ending balance	(345)	(345)	(226)	(191)	$ (345)	$ (226)
Other non-operating income \| Post-retirement Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Amortization of actuarial gain on post-retirement benefit plans into other non-operating income, net			(1)	(1)
Other non-operating income \| Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Amortization of actuarial gain on post-retirement benefit plans into other non-operating income, net			(1)	(1)
Revenue \| Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification of unrealized gain (loss) on foreign exchange agreements			(1)	3
Revenue \| Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification of unrealized gain (loss) on foreign exchange agreements			$ (1)	3
Cost of Revenue \| Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification of unrealized gain (loss) on foreign exchange agreements		1		2
Reclassification of unrealized gain on foreign exchange agreements into cost of revenue	(1)
Cost of Revenue \| Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Reclassification of unrealized gain (loss) on foreign exchange agreements		$ 1		$ 2
Reclassification of unrealized gain on foreign exchange agreements into cost of revenue	$ (1)

Commitments and Contingencies_2

Commitments and Contingencies (Summary of Warranties) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Warranties
Warranty accrual – January 1	$ 63	$ 54
Net charges for product warranties in the period	17	13
Net Evoqua additions from acquisition	0	10
Settlement of warranty claims	(18)	(13)
Warranty accrual – June 30	$ 62	$ 64

Commitments and Contingencies_3

Commitments and Contingencies (Textual) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Legal contingency accrual	$ 6	$ 18
Guarantee amounts	733	$ 729
Estimated environmental matters	$ 4

Segment Information (Textuals)

Segment Information (Textuals) (Details)	6 Months Ended
Segment Information (Textuals) (Details)	Jun. 30, 2024 Segment
Segment Reporting [Abstract]
Number of reportable segments	4

Segment Information (Summary of

Segment Information (Summary of Operations by Segment) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Financial information for each reportable segment
Revenues		$ 2,169	$ 1,722	$ 4,202	$ 3,170
Operating income		253	119	462	250
Interest Expense		11	12	25	21
Other non-operating income		4	7	10	11
Gain/(Loss) on sale of businesses		1	0	(4)	0
Income before taxes		247	114	443	240
Depreciation and amortization		145	92	279	152
Capital expenditures		73	53	147	103
Regional selling locations
Financial information for each reportable segment
Capital expenditures	[1]	5	5	11	11
Corporate and other
Financial information for each reportable segment
Operating income		(22)	(90)	(54)	(132)
Depreciation and amortization		3	2	6	4
Capital expenditures		4	3	8	7
Water Infrastructure \| Operating Segments
Financial information for each reportable segment
Revenues		631	519	1,205	929
Operating income		78	70	138	116
Depreciation and amortization		37	18	68	27
Capital expenditures		9	7	17	15
Applied Water \| Operating Segments
Financial information for each reportable segment
Revenues		456	478	892	931
Operating income		71	84	132	167
Depreciation and amortization		7	7	14	13
Capital expenditures		3	7	8	15
Measurement and Control Solutions \| Operating Segments
Financial information for each reportable segment
Revenues		482	384	944	762
Operating income		79	29	149	55
Depreciation and amortization		32	31	65	61
Capital expenditures		19	13	37	30
Water Solutions and Services \| Operating Segments
Financial information for each reportable segment
Revenues		600	341	1,161	548
Operating income		47	26	97	44
Depreciation and amortization		66	34	126	47
Capital expenditures		$ 33	$ 18	$ 66	$ 25

[1] Represents capital expenditures incurred by the Regional selling locations not allocated to the segments.