Crane Co
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 26, 2026
CR$209.37-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 15. Exhibits and Financial Statement Schedules
(a) Consolidated Financial Statements:
| Page Number | |
| Report of Independent Registered Public Accounting Firm (PCAOB ID No. 34) | Page 37 |
|---|---|
| Consolidated Statements of Operations | Page 39 |
| Consolidated Statements of Comprehensive Income | Page 40 |
| Consolidated Balance Sheets | Page 41 |
| Consolidated Statements of Cash Flows | Page 42 |
| Consolidated Statements of Changes in Equity | Page 44 |
| Notes to Consolidated Financial Statements | Page 45 |
(b) Exhibits
| Exhibit No. | Description |
|---|---|
| Exhibit 21 | Subsidiaries of the Registrant. |
| Exhibit 23.1 | Consent of Independent Registered Public Accounting Firm. |
| Exhibit 31.1 | Certification of Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a). |
| Exhibit 31.2 | Certification of Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a). |
| Exhibit 32.1 | Certification of Chief Executive Officer pursuant to Rule13a-14(b) or 15d-14(b). |
| Exhibit 32.2 | Certification of Chief Financial Officer pursuant to Rule 13a-14(b) or 15d-14(b). |
| Exhibit 101.INS | Inline XBRL Instance Document |
| Exhibit 101.SCH | Inline XBRL Taxonomy Extension Schema Document |
| Exhibit 101.CAL | Inline XBRL Taxonomy Calculation Linkbase Document |
| Exhibit 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document |
| Exhibit 101.LAB | Inline XBRL Taxonomy Label Linkbase Document |
| Exhibit 101.PRE | Inline XBRL Taxonomy Presentation Linkbase Document |
| Exhibit 104 | Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) |
Exhibits to Form 10-K — Documents incorporated by reference:
| (2) | Plan of Acquisition, Reorganization, Liquidation, or Succession |
| 2.1 | Purchase Agreement dated as of June 6, 2025 by and among Baker Hughes Holdings LLC, Bently Nevada, LLC and Crane Company (incorporated by reference to Exhibit 2.1 to Crane Company’s Current Report on Form 8-K filed on June 9, 2025). |
| 2.1 | Separation and Distribution Agreement, dated as of April 3, 2023, by and between Crane Holdings, Co. and Crane Company (incorporated by reference to Exhibit 2.1 to Crane Company’s Current Report on Form 8-K filed on April 3, 2023). |
| 2.2 | Stock Purchase Agreement, dated as of August 12, 2022, by and among Crane Holdings, Co., Crane Company, Redco Corporation and Spruce Lake Liability Management Holdco LLC (incorporated by reference to Exhibit 2.1 to Crane Holdings, Co.'s Current Report on Form 8-K filed on August 15, 2022). |
| (3) | Certificate of Incorporation and Bylaws: |
| 3.1 | Amended and Restated Certificate of Incorporation of Crane Company, dated as of March 28, 2023 (incorporated by reference to Exhibit 3.1 to Crane Company’s Current Report on Form 8-K filed on April 3, 2023). |
| 3.2 | Amended and Restated By-laws of Crane Company, dated as of March 28, 2023 (incorporated by reference to Exhibit 3.2 to Crane Company’s Current Report on Form 8-K filed on April 3, 2023). |
| (4) | Instruments Defining the Rights of Security Holders: |
| 4.1 | Description of Crane Company’s capital stock registered under Section 12 of the Securities Exchange Act of 1934 (incorporated by reference to Exhibit 4.1 to Crane Company’s Annual Report on Form 10-K for its fiscal year ended December 31, 2022). |
| (10) | Material Contracts |
| 10.1 | Credit Agreement, dated as of September 30, 2025, by and among Crane Company, a Delaware corporation, as borrower, CR Holdings, C.V., as a subsidiary borrower, the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent* (incorporated by reference to Exhibit 10.1 to Crane Company’s Current Report on Form 8-K filed on September 30, 2025). |
| 10.1 | Credit Agreement, dated as of March 17, 2023, by and among Crane Company, as borrower, CR Holdings, C.V., as a subsidiary borrower, the lenders and issuing banks party thereto, JPMorgan Chase Bank, N.A., as administrative agent, and the other agents and arrangers party thereto (incorporated by reference to Exhibit 10.1 to Crane Company’s Current Report on Form 8-K filed on March 20, 2023). |
| 10.2 | Incremental Facility and Amendment Agreement, dated as of October 3, 2023, among Crane Company, as borrower, the lenders and issuing banks party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the other agents and arrangers party thereto (incorporated by reference to Exhibit 10.1 to Crane Company’s Current Report on Form 8-K filed on October 10, 2023). |
| 10.3 | Transition Services Agreement, dated as of April 3, 2023, by and between Crane Holdings, Co. and Crane Company (incorporated by reference to Exhibit 10.1 to Crane Company’s Current Report on Form 8-K filed on April 3, 2023). |
| 10.4 | Tax Matters Agreement, dated as of April 3, 2023, by and between Crane Holdings, Co. and Crane Company (incorporated by reference to Exhibit 10.2 to Crane Company’s Current Report on Form 8-K filed on April 3, 2023). |
| 10.5 | Employee Matters Agreement, dated as of April 3, 2023, by and between Crane Holdings, Co. and Crane Company (incorporated by reference to Exhibit 10.3 to Crane Company’s Current Report on Form 8-K filed on April 3, 2023). |
| 10.6 | Intellectual Property Matters Agreement, dated as of April 3, 2023, by and between Crane Holdings, Co. and Crane Company (incorporated by reference to Exhibit 10.4 to Crane Company’s Current Report on Form 8-K filed on April 3, 2023). |
| (iii) | Management Contracts or Compensatory Plans, Contracts or Arrangements |
| (a) | Crane Company Annual Incentive Plan (incorporated by reference to Exhibit 10.1 to Crane Company’s Quarterly Report on Form 10-Q for its fiscal quarter ended March 31, 2023). |
| (b) | Crane Company 2023 Stock Incentive Plan (incorporated by reference to Exhibit 99.1 to Crane Company’s Current Report on Form 8-K filed on February 27, 2023). |
| (c) | Crane Company 2023 Stock Incentive Plan (incorporated by reference to Exhibit 4.3 to Crane Company’s Registration Statement on Form S-8, filed on April 3, 2023). |
| (d) | The Crane Co. Benefit Equalization Plan, effective February 25, 2008 (incorporated by reference to Exhibit 10.8 to Crane Company’s Registration Statement on Form 10 filed on December 15, 2022). |
| (e) | The Crane Co. Benefit Equalization Plan as amended effective January 1, 2013 (incorporated by reference to Exhibit 10.9 to Crane Company’s Registration Statement on Form 10 filed on December 15, 2022). |
| (f) | Form of Employment/Severance Agreement between Crane Company and its executive officers, which provides for the continuation of certain employee benefits upon a change in control (incorporated by reference to Exhibit 10.5 to Crane Company’s Registration Statement on Form 10 filed on December 15, 2022). |
| (g) | Form of Indemnification Agreement between Crane Company and each of its director and executive officers (incorporated by reference to Exhibit 10.6 to Crane Company’s Registration Statement on Form 10 filed on December 15, 2022). |
| (h) | Time-sharing Agreement dated January 31, 2014 between Crane Company and Max H. Mitchell (incorporated by reference to Exhibit 10.10 to Crane Company’s Registration Statement on Form 10 filed on December 15, 2022). |
| (i) | Amendment, dated August 31, 2017, to Time Sharing Agreement with M. Mitchell (incorporated by reference to Exhibit 10.11 to Crane Company’s Registration Statement on Form 10 filed on December 15, 2022). |
| (j) | Time-sharing Agreement, dated April 27, 2020 between Crane Company and James L.L. Tullis (incorporated by reference to Exhibit 10.12 to Amendment No. 1 to Crane Company’s Registration Statement on Form 10 filed on January 24, 2023). |
| (k) | Offer Letter between Crane Company and Marijane Papanikolaou (incorporated by reference to Exhibit 10.3 to Crane Company’s Quarterly Report on Form 10-Q for its fiscal quarter ended March 31, 2023). |
| 19.1 | Crane Company Policy on Trading in Company Stock (incorporated by reference to Exhibit 19.1 to Company’s Annual Report on Form 10-K for its fiscal year ended December 31, 2024) |
| 97 | Crane Company Incentive Compensation Clawback Policy (as adopted July 24, 2023, incorporated by reference to Exhibit 97 to Company’s Annual Report on Form 10-K for its fiscal year ended December 31, 2024). |
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