Company: NPO
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001164863-25-000017
Chunk: 25

Company: Enpro Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 25
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4 were as follows:

(in millions)Parent and Guarantor SubsidiariesNet sales$738.2 Gross profit$270.5 Net loss$(8.9)

29

The summarized balance sheet at December 31, 2024 was as follows:

(in millions)Parent and Guarantor SubsidiariesASSETSCurrent assets$249.4 Non-current assets1,568.8 Total assets$1,818.2 LIABILITIES AND EQUITYCurrent liabilities$145.4 Non-current liabilities915.2 Total liabilities1,060.6 Shareholders’ equity757.6 Total liabilities and equity$1,818.2 

The table above reflects $14.1 million of current intercompany receivables due to the Guarantor Subsidiaries from the Non-Guarantor Subsidiaries and $8.1 million of current intercompany payables due to the Non-Guarantor Subsidiaries from the Guarantor Subsidiaries within current assets and liabilities.

The Senior Notes are structurally subordinated to the indebtedness and other liabilities of the Non-Guarantor Subsidiaries. The Non-Guarantor Subsidiaries are separate and distinct legal entities and have no obligation, contingent or otherwise, to pay any amounts due pursuant to the Senior Notes or the Indenture, or to make any funds available therefor, whether by dividends, loans, distributions or other payments. Any right that the Company or the Guarantor Subsidiaries have to receive any assets of any of the Non-Guarantor Subsidiaries upon the liquidation or reorganization of any Non-Guarantor Subsidiary, and the consequent rights of holders of Senior Notes to realize proceeds from the sale of any of a Non-Guarantor Subsidiary’s assets, would be effectively subordinated to the claims of such Non-Guarantor Subsidiary’s creditors, including trade creditors and holders of preferred equity interests, if any, of such Non-Guarantor Subsidiary. Accordingly, in the event of a bankruptcy, liquidation or reorganization of any of the Non-Guarantor Subsidiaries, the Non-Guarantor Subsidiaries will pay the holders of their debts, holders of preferred equity interests, if any, and their trade creditors before they will be able to distribute any of their assets to the Company or any Guarantor Subsidiaries. 

If a Guar