On February 25, 2025, the Company entered into an agreement to sell its Purification and Filtration business to Thermo Fisher Scientific Inc. for $4.1 billion. On June 25, the Company and Buyer entered into an additional agreement to exclude the Company's Water Business from the scope of the Purification and Filtration business to be acquired by Buyer and reduce the cash consideration at closing to approximately $4.0 billion.

1. 01

   On February 25, 2025, the Company entered into an agreement to sell its Purification and Filtration business to Thermo Fisher Scientific Inc. for $4.1 billion. On June 25, the Company and Buyer entered into an additional agreement to exclude the Company's Water Business from the scope of the Purification and Filtration business to be acquired by Buyer and reduce the cash consideration at closing to approximately $4.0 billion.

2. 02

   The Company said the closing of the transaction is expected to be completed by the end of 2025, subject to regulatory approvals and customary closing conditions. It added that the Company intends to use the net proceeds from the transaction primarily to pay down a portion of the Company's outstanding debt through the pay down of its term loan and bond buybacks.

3. 03

   As of June 30, 2025, the Company had $492 million of cash and cash equivalents. As of December 31, 2024, the Company had $762 million. The Company cited higher year-on-year interest payments on the Company's debt, standalone company tax payments, higher annual incentive compensation payments and lower net income as factors for the decrease in cash flows provided by operating activities in the 6 months of 2025 compared to the same period in the prior year.

4. 04

   The Company cited the repayment of $200 million outstanding principal issued under the senior term loan credit facilities as the primary reason for the increase in cash flows used by financing activities in the 6 months of 2025 compared to the same period in the prior year. There was no commercial paper outstanding as of June 30, 2025.

Key figures

Quarter ended June 30, 2025

Revenue

$2.2B

Operating income

$214M

Net income

$90M

EPS

$0.51

Gross profit

$1.2B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.