AND SUBSIDIARIESNon-GAAP Financial Measures(unaudited, in millions, except per share data) Nine Months Ended September 30, 2024 2023 Adjusted Operating Profit and Adjusted Operating Profit Margin$ Per Share $ Per ShareNet sales (GAAP)$1,087.7 $1,034.4 Operating profit (GAAP)$198.0 $214.4 Operating profit margin (GAAP) 18.2% 20.7% Special items impacting operating profit: Acquired intangible asset amortization 33.6 27.0 Transaction related expenses 16.8 20.4 Impact of acquisition related fair value step-up 5.9 — Restructuring charges, net 2.7 — Adjusted operating profit (Non-GAAP)$257.0 $261.8 Adjusted operating profit margin (Non-GAAP) 23.6% 25.3% Adjusted Net Income and Adjusted Net Income per Share Net income attributable to common shareholders (GAAP)$126.5 $2.19 $138.8 $2.42 Acquired intangible asset amortization 33.6 0.58 27.0 0.47 Transaction related expenses 17.4 0.30 20.4 0.35 Impact of acquisition related fair value step-up 5.9 0.10 — — Restructuring charges, net 2.7 0.05 — — Interest adjustment1 — — 2.5 0.04 Tax adjustments (9.2) (0.16) (6.4) (0.10)Adjusted net income (Non-GAAP)$176.9 $3.06 $182.3 $3.18 Adjusted EBITDA and Adjusted EBITDA margin Net income attributable to common shareholders (GAAP)$126.5 $138.8 Net income margin (GAAP) 11.6% 13.4% Adjustments to net income attributable to common shareholders: Income tax expense 38.9 39.6 Interest expense, net 34.3 39.1 Intangible asset amortization 33.7 27.0 Depreciation 27.8 30.6 Transaction related expenses 17.4 20.4 Impact of acquisition related fair value step-up 5.9 — Restructuring charges, net 2.7 — Adjusted EBITDA (Non-GAAP)$287.2 $295.5 Adjusted EBITDA Margin (Non-GAAP) 26.4% 28.6% Totals may not sum due to rounding 1 Related party interest with Crane Company incurred prior to the Separation. CRANE NXT, CO.
AND SUBSIDIARIESNon-GAAP Financial Measures(unaudited, in millions, except per share data) Three Months Ended September 30, 2024 2023 Adjusted Operating Profit and Adjusted Operating Profit Margin$ Per Share $ Per ShareNet sales (GAAP)$403.5 $352.9 Operating profit (GAAP)$75.0 $79.7 Operating profit margin (GAAP) 18.6% 22.6% Special items impacting operating profit: Acquired intangible asset amortization 13.4 8.9 Transaction related expenses 6.2 3.0 Impact of acquisition related fair value step-up 1.9 — Adjusted operating profit (Non-GAAP)$96.5 $91.6 Adjusted operating profit margin (Non-GAAP) 23.9% 26.0% Adjusted Net Income and Adjusted Net Income per Share Net income attributable to common shareholders (GAAP)$47.1 $0.81 $51.9 $0.90 Acquired intangible asset amortization 13.4 0.23 8.9 0.15 Transaction related expenses 6.2 0.11 3.0 0.06 Impact of acquisition related fair value step-up 1.9 0.03 — — Tax adjustments (1.9) (0.02) (1.2) (0.02)Adjusted net income (Non-GAAP)$66.7 $1.16 $62.6 $1.09 Adjusted EBITDA and Adjusted EBITDA margin Net income attributable to common shareholders (GAAP)$47.1 $51.9 Net income margin (GAAP) 11.7% 14.7% Adjustments to net income attributable to common shareholders: Income tax expense 16.2 16.0 Intangible asset amortization 13.5 8.9 Interest expense, net 13.0 12.5 Depreciation 9.3 11.0 Transaction related expenses 6.2 3.0 Impact of acquisition related fair value step-up 1.9 — Adjusted EBITDA (Non-GAAP)$107.2 $103.3 Adjusted EBITDA Margin (Non-GAAP) 26.6% 29.3% Totals may not sum due to rounding CRANE NXT, CO.
AND SUBSIDIARIESNon-GAAP Financial Measures by Segment(unaudited, in millions) Nine Months Ended September 30, 2024Crane Payment Innovations Security and Authentication Technologies Corporate Total CompanyNet sales$658.3 $429.4 $— $1,087.7 Operating profit (loss) (GAAP)$178.7 $73.5 $(54.2) $198.0 Operating profit margin (GAAP) 27.1% 17.1% 18.2% Special items impacting operating profit: Acquired intangible asset amortization 15.9 17.7 — 33.6 Impact of acquisition related fair value step-up — 5.9 — 5.9 Restructuring charges, net 2.7 — — 2.7 Transaction related expenses 0.7 — 16.1 16.8 Adjusted operating profit (loss) (non-GAAP)$198.0 $97.1 $(38.1) $257.0 Adjusted operating profit margin (non-GAAP) 30.1% 22.6% 23.6% Nine Months Ended September 30, 2023Crane Payment Innovations Security and Authentication Technologies Corporate Total CompanyNet sales$671.3 $363.1 $— $1,034.4 Operating profit (GAAP)$186.3 $85.1 $(57.0) $214.4 Operating profit margin (GAAP) 27.8% 23.4% 20.7% Special items impacting operating profit: Acquired intangible asset amortization 16.4 10.6 — 27.0 Transaction related expenses — — 20.4 20.4 Adjusted operating profit (non-GAAP)$202.7 $95.7 $(36.6) $261.8 Adjusted operating profit margin (non-GAAP) 30.2% 26.4% 25.3% Totals may not sum due to rounding CRANE NXT, CO.
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