<SEC-DOCUMENT>0000950103-24-014633.txt : 20241122
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<ACCEPTANCE-DATETIME>20241004150809
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950103-24-014633
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20241004

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Crane NXT, Co.
		CENTRAL INDEX KEY:			0000025445
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS FABRICATED METAL PRODUCTS [3490]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				880706021
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		CRANE NXT, CO.
		STREET 2:		950 WINTER STREET, 4TH FLOOR NORTH
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451
		BUSINESS PHONE:		781-755-6868

	MAIL ADDRESS:	
		STREET 1:		CRANE NXT, CO.
		STREET 2:		950 WINTER STREET, 4TH FLOOR NORTH
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Crane Holdings, Co.
		DATE OF NAME CHANGE:	20220527

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CRANE CO /DE/
		DATE OF NAME CHANGE:	19920703
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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">October 4, 2024</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Disclosure Review Program</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">100 F Street, N.E.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Attn: Patrick Fullem and Laura Nicholson</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>Re:</B></TD><TD><B>Crane NXT, Co.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><B>Definitive Proxy Statement on Schedule
14A</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><B>Filed April 11, 2024</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in"><B>File No. 001-01657</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Dear Mr. Fullem and Ms. Nicholson:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Crane NXT, Co. (the &ldquo;<B>Company</B>&rdquo;) is in receipt of a
letter dated September 23, 2024 (the &ldquo;<B>Comment Letter</B>&rdquo;) from the staff (the &ldquo;<B>Staff</B>&rdquo;) of the Division
of Corporate Finance of the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) relating to the above-captioned filing
(the &ldquo;<B>Proxy Statement</B>&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">For the convenience of the Staff, each comment from the Comment Letter
is restated in italics prior to the response to such comment. All references to page numbers, captions (other than those in the Staff&rsquo;s
comments), sections and exhibits correspond to pages, captions, sections and exhibits in the Proxy Statement.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0pt 0pt 0.95in; text-indent: -0.95in"><B><I>Comment 1:</I></B>&nbsp;&nbsp;&nbsp;<I>&nbsp;Refer
to the net income numbers in your pay versus performance table. It appears that you have included the 2020 through 2022 net income values
from your annual report on Form 10-K for the fiscal year ended December 31, 2022, rather than the annual report on Form 10-K for the
most recent fiscal year. We also note disclosures about the separation transaction in April 2023, indicating that (1) your net income
presentation for years prior to 2023 does not reflect the separation and (2) your annual report on Form 10-K for the fiscal year ended
December 31, 2023 includes carve-out financial statements representing only your operations, assets, liabilities and equity on a stand-alone
basis. Please tell us how you considered the requirements of Item 402(v)(2)(v) of Regulation S-K and related guidance in presenting the
net income amounts from your annual report on Form 10-K for the fiscal year ended December 31, 2022. Alternatively, in future filings,
please include net income (loss), as reported in your most recently filed audited GAAP financial statements, in column (h) for all years
covered by the table. Refer to Regulation S-K Compliance and Disclosure Interpretation 128D.08. Please note that you may voluntarily
provide supplemental measures of net income or financial performance, so long as any additional disclosure is &ldquo;clearly identified
as supplemental, not misleading, and not presented with greater prominence than the required disclosure.&rdquo; See Pay Versus Performance,
Release No. 34-95607 (August 25, 2022) [87 FR 55134 (September 8, 2022)] at Section II.F.3.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-top: rgb(5,99,193) 4pt solid; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">950 Winter Street, 4th Floor North, Waltham, Massachusetts 02451</P><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in"><B>Response:</B> <I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</I>As
noted in the Proxy Statement and as discussed with the Staff, the net income (loss) reported in the pay versus performance table for
the 2020 to 2022 fiscal years reflect the net income (loss) reported in the Company&rsquo;s annual report on Form 10-K for the fiscal
year ended December 31, 2022. Such numbers reflect the Company&rsquo;s net income (loss) prior to the April 2023 separation of the Aerospace
&amp; Electronics, Process Flow Technologies and Engineered Materials businesses (the &ldquo;<B>Separation</B>&rdquo;) and were disclosed
in the Company&rsquo;s audited financial statements for the fiscal year ended December 31, 2022, as required by Regulation S-K Compliance
and Disclosure Interpretation 128D.08. The Company included pre-Separation numbers as the compensation awarded during such fiscal years
(particularly the compensation of the Company&rsquo;s PEO, who ceased to be PEO in connection with the Separation) was based on the pre-Separation
business.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.5in">However, the Company acknowledges the Staff&rsquo;s comment
and will revise future proxy disclosure to include net income (loss), as reported in the Company&rsquo;s most recently filed audited GAAP
financial statements, in column (h) of the Pay Versus Performance Table for all years covered by the table. For fiscal year 2020, which
is not included in the Company&rsquo;s annual report on Form 10-K for the fiscal year ended December 31, 2023, the Company intends to
include net income (loss) which reflects the Separation, as reported in the Company&rsquo;s Audited Combined Carve-Out Financial Statements,
which are included as Exhibit 99.4 to the Company&rsquo;s current report on Form 8-K (File No. 001-01657) filed on April 3, 2023.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0pt 0pt 0.95in; text-indent: -0.95in"><B><I>Comment 2: </I></B><I>&nbsp;&nbsp;&nbsp;We note that you have included
Adjusted EPS, a non-GAAP measure, as your Company- Selected Measure pursuant to Item 402(v)(2)(vi) of Regulation S-K. While
Company-Selected Measure disclosure is not subject to Regulation G or Item 10(e) of Regulation SK, you must disclose how the measure
is calculated from your audited financial statements. It is not clear from your disclosure on page 58 how this number is calculated
from your audited financial statements. We note in this regard your disclosure that Adjusted EPS is &ldquo;further adjusted for
special items&rdquo; by the Committee for bonus calculation purposes under the Annual Incentive Plan. Please tell us and revise
future disclosure to explain how the measure is calculated from your audited financial statements. Note that incorporation by
reference to disclosure in a separate filing will not satisfy this disclosure requirement.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in"><B>Response:&nbsp;</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company acknowledges
the Staff&rsquo;s comment and will revise future proxy disclosure to provide a more detailed description of how Adjusted EPS is calculated
from the Company&rsquo;s audited financial statements, including by identifying special adjustments and noting whether such costs are
one-time or recurring items. Adjusted EPS is calculated as Adjusted net income divided by diluted shares. Adjusted net income is calculated
as net income excluding intangible asset amortization, restructuring charges, impact of pension curtailments and settlements, stock-based
compensation adjustment resulting from the Separation, transaction related expenses such as tax charges, professional fees, and incremental
costs related to the Separation, and including the tax effect of</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.5in">these adjustments and other discrete tax items. In addition,
as noted in the Proxy Statement, for the Company&rsquo;s fiscal year ending December 31, 2023, Adjusted EPS was further adjusted for special
items for purposes of bonus calculations under the Annual Incentive Plan and the pay versus performance disclosure. Such items consisted
of corporate cost allocations, interests expense and tax expense, each of which were special costs incurred in connection with the Separation
and which were not contemplated at the time of setting performance goals under the Annual Incentive Plan.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0pt 0pt 0.95in; text-indent: -0.95in"><B><I>Comment 3: </I></B><I>&nbsp;&nbsp;&nbsp;We note that your disclosure on page
59 of total shareholder return, peer group total shareholder return, compensation actually paid, net income and Adjusted EPS solely
states the values of such items from your pay versus performance table. It appears that you may have intended this disclosure to
satisfy the requirements under Item 402(v)(5) of Regulation S-K to describe the relationships between compensation actually paid and
the performance metrics in the pay versus performance table. Although you may provide this information graphically, narratively, or
a combination of the two, this disclosure must be separate from the pay versus performance table required by Item 402(v)(1) of
Regulation S-K and must provide a clear description of each separate relationship indicated in Item 402(v)(5)(i) &ndash; (iv) of
Regulation S-K. Please note, it is not sufficient to state that no relationship exists, even if a particular measure is not used in
setting compensation. Please ensure that your disclosure provided pursuant to Item 402(v)(5)(i) &ndash; (iv) of Regulation SK
provides the required clear description of the relationship between each required performance measure and compensation actually
paid.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in"><B>Response:&nbsp;<I>&nbsp;&nbsp;</I></B><I>&nbsp;&nbsp;&nbsp;&nbsp;</I>The
Company acknowledges the Staff&rsquo;s comment and will revise future proxy disclosure to provide a more detailed description of each
separate relationship indicated in Item 402(v)(5)(i) &ndash; (iv) of Regulation S-K. This disclosure will be presented separately from
the pay versus performance table.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Please do not hesitate to contact me at (781) 755-6818 if you have any
questions regarding the foregoing or if we can provide any additional information.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Very truly yours,</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><U>&nbsp;/s/ Paul Igoe&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Paul Igoe</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Senior Vice President, General Counsel and Secretary</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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</SEC-DOCUMENT>
