$CXT

Crane NXT, Co.

CIK:0000025445|SEC Filings

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 493.2	$ 404.4	$ 880.9	$ 734.7
Operating costs and expenses:
Cost of sales	284.6	235.6	516.4	425.7
Selling, general and administrative	136.3	113.6	266.9	216.5
Restructuring charges	3.4	7.3	6.5	7.3
Operating profit	68.9	47.9	91.1	85.2
Other (expense) income:
Interest expense	(21.0)	(16.4)	(38.8)	(27.9)
Income (Loss) from Equity Method Investments	0.1	0.3	4.8	0.4
Miscellaneous (expense) income, net	0.1	1.0	0.0	3.2
Total other expense, net	(21.0)	(15.1)	(34.0)	(24.3)
Income before income taxes	47.9	32.8	57.1	60.9
Provision for income taxes	11.7	7.8	14.1	14.2
Net income before allocation to noncontrolling interest	36.2	25.0	43.0	46.7
Net Income (Loss) Attributable to Noncontrolling Interest	0.8		1.2	0.1
Net income attributable to common shareholders	$ 35.4	$ 24.9	$ 41.8	$ 46.6
Earnings per share:
Basic (in dollars per share)	$ 0.61	$ 0.43	$ 0.73	$ 0.81
Diluted (in dollars per share)	$ 0.61	$ 0.43	$ 0.72	$ 0.80
Average shares outstanding:
Basic (in shares)	57.5	57.4	57.5	57.3
Diluted (in shares)	58.0	57.9	58.0	57.9
Dividends per share (in dollars per share)	$ 0.18	$ 0.17	$ 0.36	$ 0.34

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions

6 Months Ended

Jun. 30, 2026

Jun. 30, 2025

Operating activities:

Net income before allocation to noncontrolling interest

$ 43.0

$ 46.7

Adjustments to reconcile net income to net cash flows provided by operating activities:

Depreciation and amortization

68.5

48.7

Stock-based compensation expense1

^[1]

19.2

6.0

Income from equity investments

(4.8)

(0.4)

Deferred income taxes

(5.4)

(12.8)

Cash used for operating working capital

55.8

48.1

Long-term contract liabilities

8.6

(0.2)

Other

(0.6)

3.8

Total provided by operating activities

72.7

43.7

Proceeds from Sale of Productive Assets

5.1

0.0

Proceeds from disposition of assets

(225.4)

(394.0)

Investing activities:

Capital expenditures

(23.4)

(20.1)

Settlement of forward contracts

0.4

1.5

Total used for investing activities

(244.1)

(412.6)

Financing activities:

Dividends paid

(20.7)

(19.5)

Proceeds from stock options exercised

0.3

1.3

Purchase of noncontrolling interest

(0.2)

0.0

Payment of tax withholding on equity awards vested

(3.0)

(5.8)

Debt issuance costs

(2.0)

(0.8)

Repayment of short-term debt

(115.1)

0.0

Proceeds from revolving credit facility

159.4

348.0

Repayments of revolving credit facility

(101.0)

(342.0)

Proceeds from term loan

366.9

400.4

Repayment of term loan

(112.4)

(36.8)

Finance lease repayments

(1.9)

0.0

Total provided by financing activities

170.3

344.8

Effect of exchange rates on cash, cash equivalents and restricted cash

(4.0)

15.2

(Decrease) increase in cash, cash equivalents and restricted cash

(5.1)

(8.9)

Cash, cash equivalents and restricted cash at beginning of period2

^[2]

246.2

173.4

Cash, cash equivalents and restricted cash at end of period

^[3]

241.1

164.5

Detail of cash used for operating working capital:

Accounts receivable

(8.3)

0.9

Inventories

(24.5)

(7.9)

Other current assets

2.7

(9.9)

Accounts payable

(35.7)

(23.8)

Accrued liabilities

23.7

11.9

U.S. and foreign taxes on income

(13.7)

(19.3)

Supplemental disclosure of cash flow information:

Interest paid

35.0

25.7

Income taxes paid, net

33.1

42.2

Unpaid capital expenditures

2.0

2.4

Current restricted cash

2.7

0.9

Noncurrent restricted cash

7.0

11.1

Long-term contract liabilities

$ 8.6

$ (0.2)

[1]	Includes $10.7 million liability-classified stock-based compensation issued to senior management of Antares Vision. See Note 2, “Acquisitions” for further details.
[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 $5.3 million and $0.8 million as of December 31, 2025, and 2024, respectively. Non-current restricted cash, included within “Other assets” in our Unaudited Condensed Consolidated Balance Sheets, was $7.2 million and $6.8 million as of December 31, 2025, and 2024, respectively.
[3]	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 $2.7 million and $0.9 million as of June 30, 2026, and 2025, respectively. Non-current restricted cash, included within “Other assets” in our Unaudited Condensed Consolidated Balance Sheets, was $7.0 million and $11.1 million as of June 30, 2026, and 2025, respectively.

CONSOLIDATED AND CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 231.4	$ 233.8
Accounts receivable, net of allowance for credit losses of $11.2 as of June 30, 2026 and $8.9 as of December 31, 2025	406.9	351.8
U.S. and foreign taxes on income	18.9		$ 12.7
Inventories, net
Finished goods	65.8	26.6
Finished parts and subassemblies	30.5	23.8
Work in process	31.6	29.4
Raw materials	110.6	89.7
Inventories, net:	238.5	169.5
Other current assets	84.8	85.1
Total current assets	980.5	852.9
Property, plant and equipment, net
Cost	716.9	688.9
Less: accumulated depreciation	398.5	385.1
Property, plant and equipment, net	318.4	303.8
Long-term deferred tax assets	13.0	2.5
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	8.2	139.4
Intangible assets, net	745.7	557.2
Goodwill	1,436.0	1,164.0
Other assets	93.3	96.6
Total assets	3,595.1	3,116.4
Current liabilities:
Short-term borrowings	193.9	135.1
Accounts payable	118.8	132.3
Contract liabilities	158.7	87.3
Accrued liabilities	199.5	185.7
U.S. and foreign taxes on income	21.9	28.7
Total current liabilities	692.8	569.1
Long-term debt	1,260.0	1,004.4
Accrued pension and postretirement benefits	28.7	19.1
Long-term deferred tax liability	204.8	151.0
Other liabilities	123.0	116.0
Total liabilities	2,309.3	1,859.6
Commitments and contingencies (Note 11)
Redeemable Noncontrolling Interest, Equity, Carrying Amount	20.7	6.9
Equity:
Preferred shares, par value $0.01; 5,000,000 shares authorized	0.0	0.0
Common shares, par value $1.00; 200,000,000 shares authorized	72.4	72.4
Capital surplus	1,712.1	1,716.5
Retained earnings	395.6	374.5
Accumulated other comprehensive loss	(112.6)	(99.9)
Treasury stock	(801.2)	(810.5)
Total shareholders’ equity	1,266.3	1,253.0
Nonredeemable noncontrolling interests	(1.2)	(3.1)
Total equity	1,265.1	1,249.9	$ 1,176.7
Total liabilities, redeemable noncontrolling interests, and equity	$ 3,595.1	$ 3,116.4
Share data:
Common shares issued (in shares)	72,441,647	72,441,647
Less: Common shares held in treasury (in shares)	14,884,688	15,000,106
Common shares outstanding (in shares)	57,556,959	57,441,541