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v3.24.0.1

Nature of Operations and Significant Accounting Policies (Narrative) (Details) $ / shares in Units, shares in Thousands |  |  | 12 Months Ended |
--- | --- | --- | --- | ---
Apr. 03, 2023 USD ($) $ / shares shares | Mar. 17, 2023 USD ($) | Dec. 31, 2023 USD ($) reporting_unit segment $ / shares shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2020 USD ($)
Line of Credit Facility [Line Items] |  |  |  |  |  |
Number of reporting segments | segment |  |  | 2 |  |  |
One-time cash dividend |  |  | $ 23,700,000 | $ 0 | $ 0 |
Transition service support period (up to) | 18 months |  |  |  |  |
Cash allocated |  |  | 227,200,000 | $ 230,700,000 |  |
Revenue recognized for government contracts in progress |  |  | $ 211,000,000 |  |  |
Common stock distributed (in shares) | shares | 56,700 |  |  |  |  |
Common shares, par value (in dollars per share) | $ / shares | $ 1.00 |  | $ 1.00 |  |  |
Dilutive equity instruments (in shares) | shares |  |  | 700 | 0 | 0 |
Stock-based awards outstanding, options (in shares) | shares |  |  | 511 | 0 | 0 |
Stock-based awards outstanding, equity instruments other than options (in shares) | shares |  |  |  | 0 | 0 |
Number of stock options excluded from computation of earnings per share (in shares) | shares |  |  | 400 |  |  |
Allowance for credit losses |  |  | $ 11,800,000 | $ 6,100,000 |  |
Allowance for credit losses activity |  |  | $ 0 | $ 0 |  |
Percentage of inventories costed using LIFO method |  |  | 12.40% | 12.20% |  |
Increase in value of inventories if LIFO inventories were valued under FIFO |  |  | $ 9,500,000 | $ 14,800,000 |  |
Reserve for excess and obsolete inventory |  |  | 33,300,000 | 29,000,000 |  |
Reserve for excess and obsolete inventory activity |  |  | 0 | 0 |  |
Impairment of long-lived assets |  |  | 0 | 0 | $ 0 |
Depreciation expense |  |  | $ 39,600,000 | 42,200,000 | 44,100,000 |
Number of reporting units | reporting_unit |  |  | 2 |  |  |
Goodwill impairment charges |  |  | $ 0 | 0 | 0 |
Intangible asset impairment charges |  |  | 0 | 0 | 0 |
Net intangible assets |  |  | 308,900,000 | 344,900,000 | $ 388,500,000 | $ 433,300,000
Intangibles with indefinite useful lives |  |  | $ 45,500,000 | $ 45,500,000 |  |
Minimum |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Estimated cost of capital (percent) |  |  | 11.00% |  |  |
Minimum | Buildings and improvements |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Estimated useful lives of property, plant and equipment |  |  | 10 years |  |  |
Minimum | Machinery and equipment |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Estimated useful lives of property, plant and equipment |  |  | 3 years |  |  |
Maximum |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Estimated cost of capital (percent) |  |  | 12.00% |  |  |
Maximum | Buildings and improvements |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Estimated useful lives of property, plant and equipment |  |  | 25 years |  |  |
Maximum | Machinery and equipment |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Estimated useful lives of property, plant and equipment |  |  | 10 years |  |  |
Weighted Average |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Estimated cost of capital (percent) |  |  | 11.40% |  |  |
Crane Net Investment |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Net assets received in spinoff | $ 382,900,000 |  |  |  |  |
Related Party |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Cash consideration | 84,000,000 |  |  |  |  |
Cash allocated | 0 |  |  |  |  |
SpinCo | Related Party |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
One-time cash dividend | 275,000,000 |  |  |  |  |
Term Facility | Credit Agreement | Line of Credit |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Maximum borrowing capacity | $ 350,000,000 | $ 350,000,000 |  |  |  |
Term loan facility, term | 3 years | 3 years |  |  |  |

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