Cash and cash equivalents (USD, millions)

Accounts receivable, net (USD, millions)

Inventories, net (USD, millions)

Other current assets (USD, millions)

Total current assets (USD, millions)

Property, plant and equipment, net (USD, millions)

Long-term deferred tax assets (USD, millions)

Other assets (USD, millions)

Intangible assets, net (USD, millions)

Goodwill (USD, millions)

Total assets (USD, millions)

Short-term borrowings (USD, millions)

Accounts payable (USD, millions)

Accrued liabilities (USD, millions)

U.S. and foreign taxes on income (USD, millions)

Total current liabilities (USD, millions)

Long-term debt, net (USD, millions)

Accrued pension and postretirement benefits (USD, millions)

Long-term deferred tax liability (USD, millions)

Other liabilities (USD, millions)

Total liabilities (USD, millions)

Common shares (USD, millions)

Capital surplus (USD, millions)

Retained earnings (USD, millions)

Accumulated other comprehensive loss (USD, millions)

Total shareholders’ equity (USD, millions)

Noncontrolling interests (USD, millions)

Total equity (USD, millions)

Total liabilities and equity (USD, millions)

0baa313ab32876aa64ac27aa5281da8bb7bdd34814bfd82c11fc4d26581e08f2

The sharp drop in cash for Q1 2024 was primarily due to significant outflows from both operating and investing activities. **Operating activities** saw a heavy use of cash, notably a **$162.4 million** increase in operating working capital, which was driven by rising accounts receivable and accrued liabilities. Additionally, **investing activities** contributed substantially, mainly due to the **acquisition of Vian for $102.5 million** and a **$3.1 million final working capital adjustment** related to the Baum acquisition. These outflows combined led to an overall decline of **$110.2 million** in cash during the period.  **[0001628280-24-019638_cr-20240331.htm:4]** **[0001628280-24-019638_cr-20240331.htm:30]** 

Why did cash drop sharply in Q1 2024?

The asset increase in Q3 2024 was driven by several factors. **Acquisitions** played a significant role, with the acquisitions of **CryoWorks** (completed in May 2024 for **$60.7 million**) and **Vian Enterprises** (completed in January 2024 for **$102.5 million**) boosting both **goodwill** and **intangible assets**. Additionally, **inventories** rose, **accounts receivable** increased due to higher sales activity, and **other current assets** saw significant growth (in part due to items like insurance receivables related to Hurricane Helene). There was also a modest increase in **property, plant, and equipment (net)**, reflecting ongoing capital investments.  **[0001628280-24-044560_cr-20240930.htm:3]** **[0001628280-24-044560_cr-20240930.htm:28]** 

What drove the asset increase in Q3 2024?

The elevation in current liabilities during Q3 2024 primarily relates to an increase in short-term borrowings and higher accrued liabilities. Specifically, the company recorded **$85 million** in short-term borrowings under its revolving credit facility in Q3 2024 compared to **$0** at the end of 2023, which was used to fund acquisitions and corporate purposes. Additionally, accrued liabilities rose from **$273.7 million** to **$313.4 million** during this period. These factors, despite being partially offset by a decline in U.S. and foreign income taxes (from **$14.3 million** to **$4.1 million**), collectively resulted in the observed increase in current liabilities.  **[0001628280-24-044560_cr-20240930.htm:3]** **[0001628280-24-044560_cr-20240930.htm:24]** 

Why are current liabilities elevated in Q3 2024?

ff4f9525910497c754f465c9b13cf80e0915fa9ac941a60e60240f97a3baba79

Aerospace & Electronics

- Commercial OE

- Military OE

- Commercial Aftermarket

- Military Aftermarket

Process Flow Technologies

- Process Valves

- Commercial Valves

- Pumps and Systems

Engineered Materials

- FRP Recreational Vehicles

- FRP Building Products

- FRP Transportation

Total Revenue

40df36f2ab0f5b3531f3e9c03539ff695335f1bb4b99163b79533900bc617efc

Crane Co (CR)

Financials