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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Weighted-Average Assumptions for Grants | The weighted-average assumptions for grants made by Holdings during the years ended December 31, 2023, 2022 and 2021 are as follows:
|  | 2023 |  | 2022 |  | 2021
Dividend yield |  | 1.57 | % |  | 2.05 | % |  | 3.06 | %
Volatility |  | 32.33 | % |  | 33.96 | % |  | 36.28 | %
Risk-free interest rate |  | 3.67 | % |  | 1.92 | % |  | 0.50 | %
Expected lives in years |  | 7.7 |  | 7.2 |  | 5.2
Summary of Stock Option Plan Activity | Activity in Crane NXT’s stock option plans for the year ended December 31, 2023 were as follows:
Option Activity |  | Number of Shares (in 000’s) |  | Weighted Average Exercise Price |  | Weighted Average Remaining Life (Years) |  | Aggregate Intrinsic Value (in millions) (a)
Options outstanding as of January 1, 2023 |  | — |  |  | $ | — |  |  |  |  |
Converted in Distribution (b) |  | 563 |  |  | 34.42 |  |  |  |  |
Granted |  | — |  |  | — |  |  |  |  |
Exercised |  | (49) |  |  | 28.11 |  |  |  |  |
Canceled |  | (3) |  |  | 31.36 |  |  |  |  |
Options outstanding as of December 31, 2023 |  | 511 |  |  | $ | 35.04 |  |  | 6.92 |  | $ | 11.2 |
Options exercisable as of December 31, 2023 |  | 230 |  |  | $ | 26.81 |  |  | 4.97 |  | $ | 6.9 |
(a) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the estimated fair value of the common stock for in the money options at December 31, 2023. (b) Excludes 611,932 of options issued to SpinCo employees.
Summary of Changes in Restricted Share Units | Changes in our restricted share units for the year ended December 31, 2023 were as follows:
Restricted Share Unit Activity |  | Restricted Share Units (in 000’s) |  | Weighted Average Grant-Date Fair Value
Restricted share units as of January 1, 2023 |  | — |  |  | $ | — |
Restricted share units converted in Distribution (a) |  | 445 |  |  | 38.92 |
Restricted share units granted |  | 36 |  |  | 49.24 |
Restricted share units vested |  | (32) |  |  | 35.46 |
Restricted share units forfeited |  | (19) |  |  | 37.69 |
Performance-based restricted share units granted |  | — |  |  | — |
Performance-based restricted share units vested |  | (18) |  |  | 30.88 |
Performance-based restricted share units forfeited |  | — |  |  | — |
Restricted share units as of December 31, 2023 |  | 412 |  |  | $ | 40.18 |
(a) Excludes 190,900 of restricted shares units issued to SpinCo employees.

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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