$CXT
Crane NXT, Co.

2023 Q3 Form 10-Q Financial Statement

#000162828023027784 Filed on August 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $352.9M $352.4M
YoY Change -56.7% -59.23%
Cost Of Revenue $187.4M $184.0M
YoY Change -61.41% -65.65%
Gross Profit $165.5M $168.4M
YoY Change -49.77% -48.75%
Gross Profit Margin 46.9% 47.79%
Selling, General & Admin $85.80M $99.60M
YoY Change -54.07% -51.22%
% of Gross Profit 51.84% 59.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.50M $9.900M
YoY Change -28.82% -69.44%
% of Gross Profit 12.39% 5.88%
Operating Expenses $85.80M $99.60M
YoY Change -54.07% -51.22%
Operating Profit $79.70M $68.80M
YoY Change -44.15% -44.69%
Interest Expense -$12.50M -$13.90M
YoY Change 3.31% -221.93%
% of Operating Profit -15.68% -20.2%
Other Income/Expense, Net -$11.80M -$12.90M
YoY Change -92.53% -105.54%
Pretax Income $67.90M $55.90M
YoY Change -294.0% -84.35%
Income Tax $16.00M $12.70M
% Of Pretax Income 23.56% 22.72%
Net Earnings $51.90M $43.20M
YoY Change -187.52% -83.27%
Net Earnings / Revenue 14.71% 12.26%
Basic Earnings Per Share $0.91 $0.76
Diluted Earnings Per Share $0.90 $0.75
COMMON SHARES
Basic Shares Outstanding 56.80M shares 56.73M shares
Diluted Shares Outstanding 57.50M shares 57.40M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $229.0M $276.9M
YoY Change -47.79% -57.44%
Cash & Equivalents $229.0M $276.9M
Short-Term Investments
Other Short-Term Assets $51.20M $49.60M
YoY Change -57.72% -62.08%
Inventory $165.9M $173.8M
Prepaid Expenses
Receivables $179.1M $200.9M
Other Receivables $0.00 $0.00
Total Short-Term Assets $625.2M $701.2M
YoY Change -57.82% -59.43%
LONG-TERM ASSETS
Property, Plant & Equipment $244.7M $251.3M
YoY Change -50.46% -51.13%
Goodwill $827.3M $835.3M
YoY Change -44.74% -45.18%
Intangibles $314.3M $325.0M
YoY Change -25.15% -25.42%
Long-Term Investments
YoY Change
Other Assets $78.50M $77.90M
YoY Change -88.09% -67.49%
Total Long-Term Assets $1.469B $1.494B
YoY Change -44.57% -46.09%
TOTAL ASSETS
Total Short-Term Assets $625.2M $701.2M
Total Long-Term Assets $1.469B $1.494B
Total Assets $2.094B $2.195B
YoY Change -49.32% -51.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $111.1M $100.8M
YoY Change -53.92% -59.34%
Accrued Expenses $181.8M $198.5M
YoY Change -54.08% -45.11%
Deferred Revenue $75.80M $93.90M
YoY Change -35.54% -5.44%
Short-Term Debt $6.600M $9.400M
YoY Change -98.35% -92.13%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $312.6M $316.9M
YoY Change -70.94% -62.51%
LONG-TERM LIABILITIES
Long-Term Debt $708.1M $829.6M
YoY Change -16.02% -1.58%
Other Long-Term Liabilities $67.90M $67.80M
YoY Change -79.85% -52.69%
Total Long-Term Liabilities $67.90M $67.80M
YoY Change -94.25% -93.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $312.6M $316.9M
Total Long-Term Liabilities $67.90M $67.80M
Total Liabilities $1.222B $1.340B
YoY Change -49.56% -49.14%
SHAREHOLDERS EQUITY
Retained Earnings $79.30M $35.30M
YoY Change -97.12% -98.76%
Common Stock $72.40M $72.40M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $872.6M $855.2M
YoY Change
Total Liabilities & Shareholders Equity $2.094B $2.195B
YoY Change -49.32% -51.21%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $51.90M $43.20M
YoY Change -187.52% -83.27%
Depreciation, Depletion And Amortization $20.50M $9.900M
YoY Change -28.82% -69.44%
Cash From Operating Activities $102.8M $165.8M
YoY Change -124.07% 58.66%
INVESTING ACTIVITIES
Capital Expenditures $7.600M -$4.400M
YoY Change -165.52% -65.35%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$7.600M $4.300M
YoY Change -2.56% -98.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -132.8M 24.10M
YoY Change -152.1% -163.76%
NET CHANGE
Cash From Operating Activities 102.8M 165.8M
Cash From Investing Activities -7.600M 4.300M
Cash From Financing Activities -132.8M 24.10M
Net Change In Cash -37.60M 194.2M
YoY Change -79.1% -47.36%
FREE CASH FLOW
Cash From Operating Activities $102.8M $165.8M
Capital Expenditures $7.600M -$4.400M
Free Cash Flow $95.20M $170.2M
YoY Change -122.92% 45.22%

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FiniteLivedAndIndefiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-7600000 usd
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
325000000.0 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
344900000 usd
CY2023Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P18Y
CY2023Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
661600000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
336600000 usd
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
325000000.0 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
663600000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
318700000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
18200000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
35700000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
30300000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
30100000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
29300000 usd
CY2023Q2 cxt Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
135900000 usd
CY2023Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
93900000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
93600000 usd
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
44900000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
56300000 usd
CY2023Q2 us-gaap Interest Payable Current
InterestPayableCurrent
10100000 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
6500000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6700000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7400000 usd
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
6400000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4400000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
36500000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
36000000.0 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
198500000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
204200000 usd
CY2023Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
9400000 usd
CY2022Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
299700000 usd
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4000000.0 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
0 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
829600000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
545100000 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
11000000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
5600000 usd
CY2022Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
85700000 usd
CY2023Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
0 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
5800000 usd
CY2023Q2 us-gaap Derivative Assets
DerivativeAssets
0 usd
CY2022Q4 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
400000 usd
CY2023Q2 us-gaap Other Assets Fair Value Disclosure
OtherAssetsFairValueDisclosure
0 usd
CY2023Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
445000000 usd
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
753100000 usd
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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0001628280-23-027784.txt Edgar Link pending
0001628280-23-027784-xbrl.zip Edgar Link pending
cxt-20230630.htm Edgar Link pending
cxt-20230630.xsd Edgar Link pending
cxt-ex311_20230630.htm Edgar Link pending
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