Company: NPO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001164863-25-000009
Chunk: 358

Company: Enpro Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 358
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 loans with foreign subsidiaries and transactions denominated in foreign currencies. Our objective is to control our exposure to these risks and limit the volatility in our reported earnings due to foreign currency fluctuations through our normal operating activities and, where appropriate, through foreign currency forward contracts and option contracts. In December 2022, we entered into a forward contract to hedge a 95 million Euro exposure of an intercompany note agreement related to the proceeds from the GGB sale allocated to foreign subsidiaries. We expect this position to be resolved in 2025. The notional amount of foreign exchange contracts hedging foreign currency transactions was $103.7 million and $110.5 million as of December 31, 2024 and 2023, respectively. All foreign exchange contracts outstanding at December 31, 2024 expired in January 2025. 

Commodity Risk

We source a wide variety of materials and components from a network of global suppliers. While such materials are typically available from numerous suppliers, commodity raw materials such as steel, engineered plastics, copper and polymers, are subject to price fluctuations, which could have a negative impact on our results. We strive to pass along such commodity price increases to customers to avoid profit margin erosion and utilize lean initiatives to further mitigate the impact of commodity raw material price fluctuations as we achieve improved efficiencies. We do not hedge commodity risk with any market risk sensitive instruments.

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ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ENPRO INC.

Index to Consolidated Financial Statements

 PageReport of Independent Registered Public Accounting Firm (PCAOB ID 238)50Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 202253Consolidated Statements of Comprehensive Income for the years ended December 31, 2024, 2023 and 202254Consolidated Statements of Cash Flows for the years ended December 31, 2024, 2023 and 202255Consolidated Balance Sheets as of December 31, 2024 and 202357Consolidated Statements of Changes in Shareholders’ Equity for the years ended December  31, 2024, 2023 and 202258Notes to Consolidated Financial Statements59Schedule II – Valuation and Qualifying Accounts for the years ended December  31, 2024, 2023 and 202296

ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DIS