Crane (CR) risk factors, FY2025 10-K

Crane's FY2025 10-K, filed Feb 26, 2026, lists 21 risk factors. Against the prior year's 22: 1 dropped, 8 substantially reworded.

Risk factors listed
211 groups
New this year
0vs 22 last year
Dropped
1since the prior 10-K
Substantially reworded
8of those kept
Section length
5k wordsItem 1A

What the changes say

  • Variable debt increased significantly to $1,150 million, raising interest rate sensitivity.
  • International sales share declined from 43.2% to 41%.
  • Segment names updated from A&E to AAT.

What changed since the prior 10-K

Dropped

  • DroppedRisks Relating to Our Business

    credit, and expectations of future demand. Slowing global economic growth and volatility in commodity prices could both contribute to lower levels of customer spending, and project delays or cancellations

Reworded

  • 70% rewrittenRisks Relating to Our Business

    Our business could be harmed if we are unable to protect our intellectual property

    Text duplicated identical wording from prior year without substantive changes.

  • 68% rewrittenRisks Relating to Our Business

    Process Flow Technologies

    Added specific mentions of lower housing construction and infrastructure spending negatively impacting chemical demand in the U.S.

  • 62% rewrittenRisks Relating to Our Business

    The prices of our components and raw materials could fluctuate dramatically, which may adversely affect our profitability

    Updated segment reference from A&E to AAT regarding raw material cost constraints.

  • 48% rewrittenRisks Relating to Our Business

    Fluctuations in interest rates could affect our financial results

    Variable debt grew from $247.5 million to $1,150 million, and a 1% rate hike impact increased from $2.5 million to $11.5 million.

  • 45% rewrittenRisks Relating to Our Business

    A substantial portion of our sales is subject to market conditions which may cause customer demand for our products to fluctuate. Reductions in demand from these industries would reduce the sales and profitability of the affected business segments

    Renamed Aerospace & Electronics segment to Aerospace & Advanced Technologies.

  • 39% rewrittenRisks Relating to Our Business

    We conduct a substantial portion of our business outside the U.S. and face risks inherent in non-domestic operations

    Non-U.S. net sales destination percentage decreased from 43.2% in 2024 to 41% in 2025.

  • 35% rewrittenRisks Relating to Our Business

    Net periodic pension cost and pension contributions associated with our retirement benefit plans may fluctuate significantly depending upon changes in actuarial assumptions and future market performance of plan assets

    Updated 2025 pension figures to $8.7 million in net periodic cost and $16.5 million in contributions.

  • 27% rewrittenRisks Relating to Our Business

    Additional tax expense or exposures could affect our financial condition, results of operations and cash flows

    Retained discussion on global 15% minimum tax rate without altering core tax exposures.

All 21 risk factors

Headings as the filing states them, in filing order.

Risks Relating to Our Business

  1. 01Macroeconomic fluctuations may harm our business, results of operations and stock price
  2. 02A substantial portion of our sales is subject to market conditions which may cause customer demand for our products to fluctuate. Reductions in demand from these industries would reduce the sales and profitability of the affected business segments45% rewritten
  3. 03We conduct a substantial portion of our business outside the U.S. and face risks inherent in non-domestic operations39% rewritten
  4. 04We may be unable to identify or to complete acquisitions, or to successfully integrate the businesses we acquire
  5. 05Our ability to source components and raw materials from our suppliers could be disrupted or delayed in our supply chain, which could adversely affect our results of operations
  6. 06The prices of our components and raw materials could fluctuate dramatically, which may adversely affect our profitability62% rewritten
  7. 07We may be unable to successfully develop and introduce new products, which would limit our ability to grow and maintain our competitive position and adversely affect our financial condition, results of operations and cash flow
  8. 08We face significant competition which may adversely impact our financial condition, results of operations, and cash flows in the future
  9. 09We compete with other manufacturing businesses for highly qualified employees in the countries in which we operate, and we may not be able to retain our personnel or hire and retain additional personnel needed for us to sustain and grow our business as planned
  10. 10Our businesses are subject to extensive governmental regulation; failure to comply with those regulations could adversely affect our financial condition, results of operations, cash flows and reputation
  11. 11Our business could be harmed if we are unable to protect our intellectual property70% rewritten
  12. 12Our future results of operations and financial condition could be adversely impacted by intangible asset impairment charges
  13. 13Our operations expose us to the risk of environmental liabilities, costs, litigation and violations that could adversely affect our financial condition, results of operations, cash flows and reputation
  14. 14We could face potential product liability or warranty claims, we may not accurately estimate costs related to such claims, and we may not have sufficient insurance coverage available to cover such claims
  15. 15Fluctuations in interest rates could affect our financial results48% rewritten
  16. 16We may be unable to improve productivity, reduce costs and align manufacturing capacity with customer demand
  17. 17Additional tax expense or exposures could affect our financial condition, results of operations and cash flows27% rewritten
  18. 18If our internal controls are found to be ineffective, our financial results or our stock price may be adversely affected
  19. 19Net periodic pension cost and pension contributions associated with our retirement benefit plans may fluctuate significantly depending upon changes in actuarial assumptions and future market performance of plan assets35% rewritten
  20. 20Our Aerospace & Advanced Technologies segment sales are primarily affected by conditions in the commercial aerospace industry, which is cyclical in nature, and by changes in defense spending by the U.S. government
  21. 21Process Flow Technologies68% rewritten

Other Crane 10-Ks

  • FY2024 10-K risk factors
    22 risks

    International sales account for 43.2% of consolidated revenues, exposing operations to non-U.S. risk factors.

    Filed Feb 27, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.