EX-99.2 3 dex992.htm CRANE CO. QUARTERLY FINANCIAL DATA SUPPLEMENT

Crane Co. Quarterly Financial Data Supplement

Exhibit 99.2

CRANE CO.

Non-GAAP Financial Measures

(in thousands)

																		Percent Change
		Three Months Ended June 30,								Six Months Ended June 30,								Three Months Ended				Six Months Ended
																		June 30,
		2007				2006				2007				2006				2007				2007
INCOME ITEMS:
Net Sales		$	660,897			$	558,151			$	1,289,115			$	1,107,533				18.4	%			16.4	%
Operating Profit		$	71,797			$	66,090			$	140,196			$	123,307				8.6	%			13.7	%
Settlement Provision—Pre-Tax *			7,600				—				7,600				—
Operating Profit before Expected Settlement		$	79,397			$	66,090			$	147,796			$	123,307				20.1	%			19.9	%
Operating Profit Margin:***
Operating Profit			10.9	%			11.8	%			10.9	%			11.1	%
Settlement Provision—Pre-Tax *			1.1	%			—				0.6				—
Operating Profit before Expected Settlement			12.0	%			11.8	%			11.5	%			11.1	%
Miscellaneous -Net		$	931			$	4,422			$	2,744			$	5,681
Net Gain on Sales—Pre-Tax **			—				(4,100	)			—				(4,100	)
Miscellaneous -Net before Net Gain on Sales		$	931			$	322			$	2,744			$	1,581
Income Before Taxes		$	66,816			$	65,919			$	131,473			$	119,576				1.4	%			9.9	%
Settlement Provision—Pre-Tax *			7,600				—				7,600				—
Net Gain on Sales—Pre-Tax **			—				(4,100	)			—				(4,100	)
Income Before Taxes before Settlement and Net Gain on Sales		$	74,416			$	61,819			$	139,073			$	115,476				20.4	%			20.4	%
Net Income		$	45,736			$	44,463			$	89,381			$	81,862				2.9	%			9.2	%
Settlement Provision —Net of Tax *			5,396				—				5,396				—
Net Gain on Sales—Net of Tax **			—				(2,315	)			—				(2,315	)
Net Income before Expected Settlement and Net Gain on Sales		$	51,132			$	42,148			$	94,777			$	79,547				21.3	%			19.1	%
Per Diluted Share:
Net Income		$	0.75			$	0.71			$	1.46			$	1.32				5.6	%			10.6	%
Settlement Provision —Net of Tax *			0.09				—				0.09				—
Net Gain on Sales—Net of Tax **			—				(0.04	)			—				(0.04	)
Net Income before Expected Settlement and Net Gain on Sales		$	0.84			$	0.67			$	1.55			$	1.28				25.4	%			21.1	%
*       Second quarter 2007 operating profit includes a $7.6 million provision for an expected legal settlement. **     Net Gain of $4.1 million consists of $8.3 million from the sales of Resistoflex Aerospace and Westad offset by $4.2 million from the sale of unused property resulting from prior plant consolidations and certain legal costs associated with previous divestitures. ***  Operating Profit Margin equals Operating Profit/Net Sales.
		June 30 2007				December 31, 2006
BALANCE SHEET ITEMS
Notes Payable and Current Maturities of Long-Term Debt		$	917			$	9,505
Long-Term Debt			398,211				391,760
Total Debt			399,128				401,265
Less Cash and Cash Equivalents			(135,075	)			(138,607	)
Net Debt			264,053				262,658
Shareholders’ Equity			975,241				918,603
Total Capitalization		$	1,239,294			$	1,181,261
Percentage of Net Debt to Total Capitalization			21.3	%			22.2	%
		Three Months Ended June 30								Six Months Ended June 30								Year Ended December 31,
		2007				2006				2007				2006				2007				2006
																		(Estimated)
CASH FLOW ITEMS
Cash Provided from Operating Activities before Asbestos—Related Payments		$	39,840			$	50,060			$	55,549			$	76,342			$	240,000 - 255,000			$	222,258
Asbestos Related Payments, Net of Insurance Recoveries			(5,972	)			220				(16,292	)			(9,080	)			(51,500	)			(40,563	)
Equitas Receipts			—				—				31,500				—				31,500				—
Cash Provided from Operating Activities			33,868				50,280				70,757				67,262			$	220,000 - 235,000				181,695
Less: Capital Expenditures			(14,868	)			(8,611	)			(21,831	)			(17,001	)			(45,000	)			(27,171	)
Free Cash Flow		$	19,000			$	41,669			$	48,926			$	50,261			$	175,000 - 190,000			$	154,524

Certain non-GAAP measures have been provided to facilitate comparison with the prior year.

Free cash flow provides supplemental information to assist management and investors in analyzing the Company’s ability to generate positive cash flow.

Free cash flow is considered a measure of cash generation and should be considered in addition to, but not as a substitute for, other measures reported

in accordance with generally accepted accounting principles and and may be inconsistent with similar measures presented by other companies.