SEC Comment Letter 0000000000-24-006115 to Crane Co (CR) (CIK 0001944013) (CR)
Crane Co (CR) (CIK 0001944013)
Date: May 28, 2024 · CIK: 0001944013 · Accession: 0000000000-24-006115
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 001-41570
Letter
United States securities and exchange commission logo May 28, 2024 Richard Maue Chief Financial Officer Crane Company 100 First Stamford Place Stamford CT 06902 Re:Crane Company Form 10-K for the Year Ended December 31, 2023 File No. 001-41570 Dear Richard Maue: We have limited our review of your filing to the financial statements and related disclosures and have the following comments. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 10-K for the Year Ended December 31, 2023 Management's Discussion and Analysis of Financial Condition and Results of Operations Results from Operations - For the Years ended December 31, 2023, 2022 and 2021, page 23 1.We note that throughout the results of operations section in MD&A you discuss the changes in sales by referring to the term "core sales." Please revise future filings to define "core sales" prior to its use in your discussion. Consolidated Statements of Cash Flows, page 46 2.We note that in your statement of cash flows, the reconciliation of net income to net cash flows from operations begins with the amount of “net income from continuing operations attributable to common shareholders,” which is a different from net income. Please note that ASC 230-10-45-28 and 45-29 require that whether or not cash flows from discontinued operations are presented separately in the statement of cash flows, the reconciliation of net income to net cash flows from operations should begin with net income. Please revise future filings accordingly.
FirstName LastNameRichard Maue Comapany NameCrane Company May 28, 2024 Page 2 FirstName LastName Richard Maue Crane Company May 28, 2024 Page 2 In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Charles Eastman at 202-551-3794 or Claire Erlanger at 202-551-3301 with any questions. Sincerely, Division of Corporation Finance Office of Manufacturing
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United States securities and exchange commission logo
May 28, 2024
Richard Maue
Chief Financial Officer
Crane Company
100 First Stamford Place
Stamford CT 06902
Re:Crane Company
Form 10-K for the Year Ended December 31, 2023
File No. 001-41570
Dear Richard Maue:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comments.
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe a
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments.
Form 10-K for the Year Ended December 31, 2023
Management's Discussion and Analysis of Financial Condition and Results of Operations
Results from Operations - For the Years ended December 31, 2023, 2022 and 2021, page 23
1.We note that throughout the results of operations section in MD&A you discuss the
changes in sales by referring to the term "core sales." Please revise future filings to define
"core sales" prior to its use in your discussion.
Consolidated Statements of Cash Flows, page 46
2.We note that in your statement of cash flows, the reconciliation of net income to net cash
flows from operations begins with the amount of “net income from continuing operations
attributable to common shareholders,” which is a different from net income. Please note
that ASC 230-10-45-28 and 45-29 require that whether or not cash flows from
discontinued operations are presented separately in the statement of cash flows, the
reconciliation of net income to net cash flows from operations should begin with net
income. Please revise future filings accordingly.
FirstName LastNameRichard Maue
Comapany NameCrane Company
May 28, 2024 Page 2
FirstName LastName
Richard Maue
Crane Company
May 28, 2024
Page 2
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
Please contact Charles Eastman at 202-551-3794 or Claire Erlanger at 202-551-3301 with
any questions.
Sincerely,
Division of Corporation Finance
Office of Manufacturing