Columbus McKinnon(CMCO)2023-01-31 16:00Financial Liabilities and Reserves - The company recorded a receivable for estimated future cost sharing related to asbestos reserves amounting to $8,289,000 as of December 31, 2022[248]. - The company's product-related aggregate liability is estimated at approximately $4,975,000, reflected as a liability in the balance sheet as of December 31, 2022[249]. - The company has accrued a total of $721,000 for currently known environmental matters as of December 31, 2022[258]. - The company is involved in ongoing legal actions related to product design and performance liability, with potential additional costs not expected to materially affect financial condition[254]. Taxation - Income tax expense as a percentage of income from continuing operations was 28% for the three months ended December 31, 2022, compared to 10% for the same period in 2021[259]. Market Position and Strategy - The company maintains a strong North American market share with significant positions in hoists, lifting and sling chain, and digital power and motion control systems[271]. - The company aims to enhance shareholder value by expanding EBITDA margins and return on invested capital through its strategic framework[247]. - The company is focusing on new product investments to capitalize on growth opportunities in various market sectors, including energy and automotive[271]. Operational Expenses - Operating lease expenses for the three months ended December 31, 2022, were $2,323,000, compared to $2,332,000 for the same period in 2021[266]. Share Repurchase - Total number of shares purchased during the period was 1.5 million shares[276]. - Average price paid per share was $150.25[276]. Technology and Internal Controls - Three foreign locations implemented the SAP enterprise resource planning system to enhance internal controls during the nine months ended December 31, 2022[274].