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Subsequent Events
12 Months Ended
Dec. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
Crane Currency Acquisition
On January 10, 2018, the Company completed the acquisition of Crane Currency. The base purchase price of the acquisition was $800 million on a cash-free, debt-free basis, subject to a later adjustment reflecting Crane Currency’s net working capital, cash, the assumption by Crane Co. of certain debt-like items, and Crane Currency’s transaction expenses. At the closing, the transitory subsidiary of Crane Co. merged with and into Crane Currency, with Crane Currency surviving as a wholly owned subsidiary of Crane Co. Crane Currency is a supplier of banknotes and highly engineered banknote security features which complements our existing portfolio of currency and payment products within the Payment and Merchandising Technologies segment. Acquisition-related costs are being expensed as incurred. For the year ended December 31, 2017, the Company recorded $4.2 million of transaction costs.
Due to the closing of this acquisition subsequent to the period end, the Company is currently determining the fair value of assets acquired and liabilities assumed necessary to develop the purchase price allocation. Therefore, disclosure of the purchase price allocation to the tangible and intangible assets acquired and liabilities assumed and supplemental pro forma information is not practicable. The pro forma revenue and earnings of the combined financial results will be included in our Form 10-Q for the fiscal quarter ended March 31, 2018.

Recent Financing Arrangements
On February 5, 2018, the Company completed a public offering of $350 million aggregate principal amount of 4.20% Senior Notes due 2048 (the "2048 Notes"). The 2048 Notes will bear interest at a rate of 4.20% per annum and mature on March 15, 2048. Interest will accrue on the Notes from February 5, 2018. Interest on the 2048 Notes is payable on March 15 and September 15 of each year, commencing on September 15, 2018. The 2048 Notes were issued under an indenture, dated as of February 5, 2018. The Indenture contains certain restrictions, including a limitation that restricts the Company’s ability and the ability of certain of its subsidiaries to create or incur secured indebtedness, enter into sale and leaseback transactions, and consolidate, merge or transfer all or substantially all of the Company’s assets and the assets of its subsidiaries. The Company used the net proceeds from the offering, together with cash on hand, to repay all of the $100 million outstanding under the 364-day Credit Agreement. The Company also issued a notice of redemption on February 7, 2018 with an effective date of March 7, 2018 for its 2.75% notes due in December 2018 with an outstanding principal value of $250 million.