Crane NXT Co
For the period ended Mar 31, 2025. Filed May 7, 2025.
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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, 2025 · Filed May 7, 2025
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) | 2025 | 2024 |
| Operating activities: | ||
| Net income attributable to common shareholders | $21.7 | $37.8 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | ||
| Depreciation and amortization | 21.6 | 18.5 |
| Stock-based compensation expense | 2.9 | 2.3 |
| Deferred income taxes | (0.5) | 0.2 |
| Cash used for operating working capital | (61.4) | (50.8) |
| Other | (3.4) | 1.5 |
| Total (used for) provided by operating activities | (19.1) | 9.5 |
| Investing activities: | ||
| Capital expenditures | (13.1) | (12.5) |
| Settlement of forward contracts | (0.5) | — |
| Total used for investing activities | (13.6) | (12.5) |
| Financing activities: | ||
| Dividends paid | (9.7) | (9.1) |
| Proceeds from stock options exercised | 0.6 | 1.6 |
| Payment of tax withholding on equity awards vested | (5.6) | (6.2) |
| Debt issuance costs | (0.8) | — |
| Proceeds from revolving credit facility | 106.0 | 30.0 |
| Repayment of revolving credit facility | (52.5) | (5.0) |
| Repayment of term loan | — | (0.7) |
| Total provided by financing activities | 38.0 | 10.6 |
| Effect of exchange rates on cash, cash equivalents and restricted cash | 6.7 | (7.9) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 12.0 | (0.3) |
| Cash, cash equivalents and restricted cash at beginning of period1 | 173.4 | 227.2 |
| Cash, cash equivalents and restricted cash at end of period2 | $185.4 | $226.9 |
- Includes both current and non-current balances of restricted cash. Current restricted cash, included within “Other current assets” in our Unaudited Condensed Consolidated Balance Sheets, was $0.8 million and $0.0 million as of December 31, 2024, and 2023, respectively. Non-current restricted cash, included within “Other assets” in our Unaudited Condensed Consolidated Balance Sheets, was $6.8 million and $0.0 million as of December 31, 2024, and 2023, respectively.
2 Includes both current and non-current balances of restricted cash. Current restricted cash, included within “Other current assets” in our Unaudited Condensed Consolidated Balance Sheets, was $0.9 million and $0.1 million as of March 31, 2025, and 2024, respectively. Non-current restricted cash, included within “Other assets” in our Unaudited Condensed Consolidated Balance Sheets, was $10.7 million and $6.2 million as of March 31, 2025, and 2024, respectively.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (in millions) | 2025 | 2024 |
| Detail of cash used for operating working capital: | ||
| Accounts receivable | $1.5 | $28.2 |
| Inventories | (9.8) | (11.7) |
| Other current assets | (5.0) | (14.5) |
| Accounts payable | (27.3) | (16.3) |
| Accrued liabilities | (11.5) | (36.8) |
| U.S. and foreign taxes on income | (9.3) | 0.3 |
| Total | $(61.4) | $(50.8) |
| Supplemental disclosure of cash flow information: | ||
| Interest paid | $10.7 | $9.2 |
| Income taxes paid | $15.9 | $8.7 |
| Unpaid capital expenditures | $1.4 | $2.0 |
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