Xylem Inc. (XYL) [Rocket]

In millions, except per share items	Jun-30-23	Mar-31-23	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21	Mar-31-21
	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q
Revenues	1,637.0	1,383.0	1,312.0	1,222.0	1,272.0	1,214.0	1,302.0	1,211.0
Revenues growth	24.8%	13.2%	0.8%	0.9%	-3.9%	3.8%	16.9%	12.8%
Cost of revenue	1,071.0	902.0	844.0	805.0	830.0	793.0	831.0	766.0
Gross profit	651.0	546.0	520.0	467.0	493.0	472.0	520.0	490.0
Gross margin	39.8%	39.5%	39.6%	38.2%	38.8%	38.9%	39.9%	40.5%
Selling, general and administrative expenses	446.0	354.0	314.0	304.0	301.0	273.0	304.0	301.0
Research and development expenses	58.0	53.0	53.0	52.0	52.0	49.0	53.0	50.0
Restructuring and asset impairment charges	28.0	8.0	7.0				3.0	6.0
Operating income	119.0	131.0	146.0	111.0	140.0	152.0	160.0	133.0
Operating margin	7.3%	9.5%	11.1%	9.1%	11.0%	12.5%	12.3%	11.0%
Interest expense	-12.0	-9.0	-12.0	-13.0	-13.0	-21.0	-21.0	-21.0
Other non-operating income, net	7.0	4.0	2.0	-1.0		2.0	-3.0	2.0
Gain from sale of business				1.0			2.0
Income before taxes	114.0	126.0	136.0	98.0		133.0	138.0	114.0
Income tax expense	22.0	27.0	24.0	16.0	13.0	19.0	25.0	27.0
Net income	92.0	99.0	112.0	82.0	113.0	114.0	113.0	87.0

Earnings per share:
Basic (usd per share)	$0.45	$0.55	$0.62	$0.45	$0.63	$0.63	$0.63	$0.49
Diluted (usd per share)	$0.45	$0.54	$0.62	$0.45	$0.62	$0.63	$0.62	$0.48

Weighted average number of shares:
Basic (in shares)	205.5	180.4	180.2	180.2	180.2	180.2	180.1	180.3
Diluted (in shares)	206.7	181.3	180.7	181.0	181.5	181.6	181.3	181.5