Crane Co
For the period ended Mar 31, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
CR$209.37-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (in millions) | 2024 | 2023 |
| Operating activities: | ||
| Net income from continuing operations attributable to common shareholders | $64.8 | $55.9 |
| Depreciation and amortization | 12.9 | 9.2 |
| Stock-based compensation expense | 6.6 | 5.6 |
| Defined benefit plans and postretirement cost | 0.9 | 2.9 |
| Deferred income taxes | 0.1 | 1.6 |
| Cash used for operating working capital | (162.4) | (184.6) |
| Defined benefit plans and postretirement contributions | (0.6) | (0.3) |
| Environmental payments, net of reimbursements | (1.4) | (1.3) |
| Other | (0.8) | 5.6 |
| Total used for operating activities from continuing operations | (79.9) | (105.4) |
| Investing activities: | ||
| Payment for acquisition - net of cash acquired | (105.6) | — |
| Capital expenditures | (9.1) | (8.9) |
| Other investing activities | 0.2 | 0.2 |
| Total used for investing activities from continuing operations | (114.5) | (8.7) |
| Financing activities: | ||
| Dividends paid | (11.7) | (26.6) |
| Net (payments) proceeds related to employee stock plans | (8.5) | 12.9 |
| Debt issuance costs | — | (4.1) |
| Proceeds from long-term debt | 140.0 | — |
| Proceeds from term facility of discontinued operations | — | 350.0 |
| Repayments of long-term debt | (31.9) | (400.0) |
| Total provided by (used for) financing activities from continuing and discontinued operations | 87.9 | (67.8) |
| Discontinued Operations: | ||
| Total provided by operating activities | — | 34.6 |
| Total used for investing activities | — | (4.1) |
| Increase in cash and cash equivalents from discontinued operations | — | 30.5 |
| Effect of exchange rates on cash and cash equivalents | (3.7) | 4.0 |
| Decrease in cash and cash equivalents | (110.2) | (147.4) |
| Cash and cash equivalents at beginning of period (a) | 329.6 | 657.6 |
| Cash and cash equivalents at end of period | 219.4 | 510.2 |
| Less: Cash and cash equivalents of discontinued operations | — | 218.0 |
| Cash and cash equivalents of continuing operations at end of period | $219.4 | $292.2 |
| (a) 2023 Includes cash and cash equivalents of discontinued operations. | ||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (in millions) | 2024 | 2023 |
| Detail of cash used for operating working capital from continuing operations: | ||
| Accounts receivable | $(46.3) | $(43.4) |
| Inventories | (19.0) | (38.2) |
| Other current assets | (11.9) | (12.1) |
| Accounts payable | (23.5) | (27.8) |
| Accrued liabilities | (58.9) | (42.3) |
| U.S. and foreign taxes on income | (2.8) | (20.8) |
| Total | $(162.4) | $(184.6) |
| Supplemental disclosure of cash flow information: | ||
| Interest paid | $5.8 | $7.0 |
| Income taxes paid | $20.0 | $33.6 |
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