Crane NXT Co
For the period ended Mar 31, 2024. Filed May 8, 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 8, 2024
CXT$58.52-1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated and Combined Condensed Statements of Cash Flows
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (in millions) | 2024 | 2023 |
| Operating activities: | ||
| Net income attributable to common shareholders | $37.8 | $43.7 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | ||
| Depreciation and amortization | 18.5 | 19.0 |
| Stock-based compensation expense | 2.3 | 2.3 |
| Deferred income taxes | 0.2 | 3.1 |
| Cash used for operating working capital | (50.8) | (28.7) |
| Other | 1.5 | (3.9) |
| Total provided by operating activities | 9.5 | 35.5 |
| Investing activities: | ||
| Capital expenditures | (12.5) | (4.0) |
| Total used for investing activities | (12.5) | (4.0) |
| Financing activities: | ||
| Dividends paid | (9.1) | — |
| Proceeds from stock options exercised | 1.6 | — |
| Payment of tax withholding on equity awards vested | (6.2) | — |
| Debt issuance costs | — | (4.0) |
| Proceeds from revolving credit facility | 30.0 | — |
| Repayment of revolving credit facility | (5.0) | — |
| Proceeds from term loan | — | 350.0 |
| Repayment of term loan | (0.7) | — |
| Net transfers to Crane | — | (392.6) |
| Total provided by (used for) financing activities | 10.6 | (46.6) |
| Effect of exchange rates on cash, cash equivalents and restricted cash | (7.9) | 2.6 |
| Decrease in cash, cash equivalents and restricted cash | (0.3) | (12.5) |
| Cash and cash equivalents at beginning of period | 227.2 | 230.7 |
| Cash, cash equivalents and restricted cash at end of period1 | $226.9 | $218.2 |
| 1 Includes both current and non-current balances of restricted cash. Current restricted cash, included within “Other current assets” in our Unaudited Consolidated and Combined Condensed Balance Sheets, was $0.1 million and $0.0 million as of March 31, 2024, and March 31, 2023, respectively. Non-current restricted cash, included within “Other assets” in our Unaudited Consolidated and Combined Condensed Balance Sheets, was $6.2 million and $0.0 million as of March 31, 2024, and March 31, 2023, respectively. | ||
CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CASH FLOWS
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (in millions) | 2024 | 2023 |
| Detail of cash used for operating working capital: | ||
| Accounts receivable | $28.2 | $21.0 |
| Inventories | (11.7) | (12.2) |
| Other current assets | (14.5) | (4.7) |
| Accounts payable | (16.3) | (13.9) |
| Accrued liabilities | (36.8) | (26.0) |
| U.S. and foreign taxes on income | 0.3 | 7.1 |
| Total | $(50.8) | $(28.7) |
| Supplemental disclosure of cash flow information: | ||
| Interest paid | $9.2 | $7.4 |
| Income taxes paid | $8.7 | $6.1 |
| Unpaid capital expenditures | $2.0 | $1.4 |
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