Company: NPO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001164863-25-000009
Chunk: 382

Company: Enpro Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 382
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 — — — — — (17.9)Balance, December 31, 202421.0 $0.2 $319.4 $1,175.6 $(65.4)$(1.2)$1,428.6 $— 

See notes to Consolidated Financial Statements.

58

ENPRO INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1.Overview, Basis of Presentation, and Significant Accounting PoliciesOverviewEnpro Inc. (“we,” “us,” “our,” “Enpro,” or the “Company”) is a leading-edge industrial technology company focused on critical applications across a diverse group of growing end markets such as semiconductor, industrial process, commercial vehicle, sustainable power generation, aerospace, food and pharmaceutical, photonics and life sciences. The Company is a leader in applied engineering and designs, develops, manufactures, and markets proprietary, value-added products and solutions that contribute key functionality or safeguard a variety of critical environments.Over the past several years, we have executed several strategic initiatives to focus the portfolio of businesses where we offer proprietary, industrial technology-related products and solutions with high barriers to entry, compelling margins, strong cash flow, and perpetual recurring/aftermarket revenue streams in markets with favorable secular tailwinds. Basis of PresentationThe Consolidated Financial Statements reflect the accounts of the Company and our majority-owned and controlled subsidiaries. All intercompany accounts and transactions between our consolidated operations have been eliminated.The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the amounts of assets and liabilities and the disclosures regarding contingent assets and liabilities at period end and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.Reclassification to 2022 Consolidated Statement of Cash FlowsIn 2024, we determined that the classification of the cash used for the acquisition of the non-controlling interests of our LeanTeq subsidiary in the fourth quarter of 2022 of $34.1 million should have been classified as a financing activity, rather than an investing activity in our consolidated statement of cash flows for the year ended December 31, 2022. We have reflected this reclassification related to calendar year 2022 in the consolidated statements of cash flows included in this Annual Report on Form 10-K. The cash flow reclassification related to 2022 did not impact the consolidated balance sheet or the consolidated statement of