Crane NXT Co
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 6, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated and Combined Condensed Statements of Cash Flows
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| (in millions) | 2024 | 2023 |
| Operating activities: | ||
| Net income attributable to common shareholders | $126.5 | $138.8 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | ||
| Depreciation and amortization | 63.4 | 59.0 |
| Stock-based compensation expense | 7.7 | 7.4 |
| Defined benefit plans and postretirement credit | (1.9) | (0.6) |
| Deferred income taxes | (0.3) | 4.8 |
| Cash used for operating working capital | (71.8) | (12.2) |
| Other | 9.4 | 0.6 |
| Total provided by operating activities | 133.0 | 197.8 |
| Investing activities: | ||
| Payment for acquisitions, net of cash acquired | (269.9) | — |
| Capital expenditures | (34.6) | (16.1) |
| Proceeds from settlement of forward contracts | 0.1 | — |
| Total used for investing activities | (304.4) | (16.1) |
| Financing activities: | ||
| Dividends paid | (27.4) | (15.8) |
| Proceeds from stock options exercised | 3.0 | 2.1 |
| Payment of tax withholding on equity awards vested | (6.5) | — |
| Debt issuance costs | — | (5.3) |
| Repayment of long-term debt | — | (300.0) |
| Proceeds from revolving credit facility | 310.5 | 20.0 |
| Repayment of revolving credit facility | (160.5) | (20.0) |
| Proceeds from term loan | — | 350.0 |
| Repayment of term loan | (3.3) | (175.0) |
| Net transfers to Crane | — | (32.5) |
| Total provided by (used for) financing activities | 115.8 | (176.5) |
| Effect of exchange rates on cash, cash equivalents and restricted cash | 2.4 | (6.9) |
| Decrease in cash, cash equivalents and restricted cash | (53.2) | (1.7) |
| Cash and cash equivalents at beginning of period | 227.2 | 230.7 |
| Cash, cash equivalents and restricted cash at end of period1 | $174.0 | $229.0 |
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 $2.2 million and $0.0 million as of September 30, 2024, and September 30, 2023, respectively. Non-current restricted cash, included within “Other assets” in our Unaudited Consolidated and Combined Condensed Balance Sheets, was $6.7 million and $0.0 million as of September 30, 2024, and September 30, 2023, respectively.
CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CASH FLOWS
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| (in millions) | 2024 | 2023 |
| Detail of cash used for operating working capital: | ||
| Accounts receivable | $18.9 | $23.8 |
| Inventories | 1.7 | (13.2) |
| Other current assets | (11.7) | (5.7) |
| Accounts payable | (3.6) | 4.5 |
| Accrued liabilities | (56.0) | (27.7) |
| U.S. and foreign taxes on income | (21.1) | 6.1 |
| Total | $(71.8) | $(12.2) |
| Supplemental disclosure of cash flow information: | ||
| Interest paid | $32.4 | $35.6 |
| Income taxes paid | $62.0 | $37.7 |
| Unpaid capital expenditures | $2.8 | $1.1 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.