Quantitative and Qualitative Disclosures About Market Risk.
−Removed: Crane Holdings, Co.
−Removed: Crane Holdings, Co.s cash flows and earnings
−Removed: are subject to fluctuations from changes in interest rates and foreign currency exchange rates.
−Removed: Crane Holdings, Co.
−Removed: manages its exposures to these market risks through internally established policies and procedures and, when deemed appropriate,
−Removed: through the use of interest-rate swap agreements and forward exchange contracts.
−Removed: Crane Holdings, Co.
−Removed: does not enter into derivatives or other financial instruments for trading or speculative purposes.
−Removed: MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
−Removed: Total net debt outstanding was $1,243.0 million as of December 31, 2022, which was at fixed rates of interest
−Removed: ranging from 4.20% to 6.55% and variable rates of interest of;
−Removed: (a) a base rate (determined in a customary manner), plus a margin of 0.25% or 0.50%
−Removed: that is determined based upon the ratings by S&P and Moodys of Crane Holdings, Co.s senior unsecured long-term debt (the Index Debt Rating) or
−Removed: (b) an adjusted Term SOFR (determined in a customary manner) for an interest period to be selected by Crane Holdings, Co., plus a margin of 1.25% or
−Removed: 1.50% that is determined based upon the Index Debt Rating.
−Removed: The following is an analysis of the potential changes in interest rates and currency exchange rates
−Removed: based upon sensitivity analysis that models effects of shifts in rates.
+Added: Our cash flows and earnings are subject to fluctuations from changes in interest rates and foreign currency exchange rates.
+Added: We manage our exposures to these market risks through internally established policies and procedures and, when deemed appropriate, through the use of interest-rate swap agreements and forward exchange contracts.
+Added: We do not enter into derivatives or other financial instruments for trading or speculative purposes.
+Added: Total net debt outstanding was $248.5 million as of December 31, 2023.
+Added: Interest on loans advanced under the Credit Agreement accrues, at our option, at a rate per annum equal to ;
+Added: (a) adjusted term SOFR plus a credit spread adjustment of 0.10% for the applicable interest period plus a margin ranging from 1.50% to 2.25% or
+Added: (b) a base rate plus a margin ranging from 0.50% to 1.25%, in each case, with such margin determined based on the lower of the ratings of our senior, unsecured long-term debt and our total net leverage ratio.
+Added: The following is an analysis of the potential changes in interest rates and currency exchange rates based upon sensitivity analysis that models effects of shifts in rates.
These are not forecasts.
−Removed: 68% of Crane Holdings, Co.s year-end portfolio is comprised of fixed-rate debt;
−Removed: therefore, the effect of a market
−Removed: change in interest rates would not be significant.
−Removed: As of December 31, 2022, a hypothetical 1% increase in prevailing interest rates would increase Crane Holdings, Co.s variable rate interest expense by approximately $4.0 million.
−Removed: Based on a sensitivity analysis as of December 31, 2022, a 10% change in the foreign currency exchange rates for the
−Removed: year ended December 31, 2022 would have impacted our net earnings by approximately $15.2 million, due primarily to the British pound, euro and Canadian dollar.
−Removed: This calculation assumes that all currencies change in the same direction and
−Removed: proportion relative to the U.S.
+Added: • As of December 31, 2023, a hypothetical 1% increase in prevailing interest rates would increase our variable rate interest expense by approximately $2.5 million.
+Added: • Based on a sensitivity analysis as of December 31, 2023, a 10% change in the foreign currency exchange rates for the year ended December 31, 2023 would have impacted our net earnings by approximately $11.2 million, due primarily to the British pound and Canadian dollar.
+Added: This calculation assumes that all currencies change in the same direction and proportion relative to the U.S.
dollar and there are no indirect effects, such as changes in non-U.S.
dollar sales volumes or prices.
−Removed: Our cash flows and earnings are subject to fluctuations from changes in interest rates and foreign currency exchange rates.
−Removed: We manage our exposures
−Removed: to these market risks through internally established policies and procedures and, when deemed appropriate, through the use of interest-rate swap agreements and forward exchange contracts.
−Removed: We do not enter into derivatives or other financial
−Removed: instruments for trading or speculative purposes.
−Removed: Total net debt outstanding was $399.6 million as of December 31, 2022, which was at variable rates of
−Removed: (a) a base rate (determined in a customary manner), plus a margin of 0.25% or 0.50% that is determined based upon the ratings by
−Removed: S&P and Moodys of the Companys senior unsecured long-term debt (the Index Debt Rating) or
−Removed: (b) an adjusted Term SOFR
−Removed: (determined in a customary manner) for an interest period to be selected by the Company, plus a margin of 1.25% or 1.50% that is determined based upon the Index Debt Rating.
−Removed: The following is an analysis of the potential changes in interest rates and currency exchange rates based upon sensitivity analysis that models effects of shifts in
−Removed: These are not forecasts.
−Removed: As of December 31, 2022, a hypothetical 1% increase in prevailing interest rates would increase our variable rate
−Removed: interest expense by approximately $4.0 million.
−Removed: INDEX TO FINANCIAL STATEMENTS
−Removed: Crane Holdings, Co.
−Removed: Audited Consolidated Financial Statements
−Removed: Managements Responsibility for Financial Reporting
−Removed: Report of Independent Registered Public Accounting Firm
−Removed: Consolidated Statements of Operations for the years ended December 31, 2022, 2021 and 2020
−Removed: Consolidated Statements of Comprehensive Income for the years ended December 31, 2022, 2021
−Removed: Consolidated Balance Sheets as of December 31, 2022 and 2021
−Removed: Consolidated Statements of Cash Flows for the years ended December 31, 2022, 2021 and 2020
−Removed: Consolidated Statements of Changes in Equity for the years ended December 31, 2022, 2021
−Removed: Notes to Consolidated Financial Statements
−Removed: Crane Company (Supplemental)
−Removed: Audited Combined Financial Statements
−Removed: Report of Independent Registered Public Accounting Firm
−Removed: Combined Statements of Operations for the years ended December 31, 2022, 2021 and 2020
−Removed: Combined Statements of Comprehensive Income for the years ended December 31, 2022, 2021
−Removed: Combined Balance Sheets as of December 31, 2022 and 2021
−Removed: Combined Statements of Cash Flows for the years ended December 31, 2022, 2021 and 2020
−Removed: Combined Statements of Changes in Net Investment for the years ended December 31, 2022,
−Removed: 2021 and 2020
−Removed: Notes to Combined Financial Statements
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.