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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Summary of Financial Information by Reportable Segment | Financial information by reportable segment is set forth below:
(in millions) December 31, |  | 2023 |  | 2022 |  | 2021
Net Sales: |  |  |  |  |  |
Crane Payment Innovations |  | $ | 886.4 |  |  | $ | 874.3 |  |  | $ | 805.7 |
Crane Currency |  | 504.9 |  |  | 465.6 |  |  | 539.4 |
Total net sales |  | $ | 1,391.3 |  |  | $ | 1,339.9 |  |  | $ | 1,345.1 |
Operating profit and Income before income taxes: |  |  |  |  |  |
Crane Payment Innovations |  | $ | 242.8 |  |  | $ | 217.1 |  |  | $ | 164.5 |
Crane Currency |  | 116.3 |  |  | 117.3 |  |  | 145.1 |
Corporate |  | (72.3) |  |  | (33.1) |  |  | (30.4) |
Total operating profit (a) |  | $ | 286.8 |  |  | $ | 301.3 |  |  | $ | 279.2 |
Interest income |  | $ | 1.1 |  |  | $ | 0.2 |  |  | $ | 0.1 |
Interest expense |  | (48.1) |  |  | (41.9) |  |  | (41.8) |
Related party interest expense |  | (2.5) |  |  | (14.4) |  |  | (16.1) |
Miscellaneous income, net |  | 2.5 |  |  | 3.1 |  |  | 4.7 |
Income before income taxes |  | $ | 239.8 |  |  | $ | 248.3 |  |  | $ | 226.1 |
Capital expenditures: |  |  |  |  |  |
Crane Payment Innovations |  | $ | 7.6 |  |  | $ | 5.0 |  |  | $ | 4.5 |
Crane Currency |  | 25.9 |  |  | 16.3 |  |  | 14.1 |
Corporate |  | 1.6 |  |  | — |  |  | — |
Total capital expenditures |  | $ | 35.1 |  |  | $ | 21.3 |  |  | $ | 18.6 |
Depreciation and amortization: |  |  |  |  |  |
Crane Payment Innovations |  | $ | 31.2 |  |  | $ | 32.9 |  |  | $ | 34.5 |
Crane Currency |  | 44.2 |  |  | 45.3 |  |  | 46.8 |
Corporate |  | 2.2 |  |  | 0.5 |  |  | 0.5 |
Total depreciation and amortization |  | $ | 77.6 |  |  | $ | 78.7 |  |  | $ | 81.8 |
(a) | For the year ended December 31, 2023, 2022 and 2021, operating profit includes net restructuring charges (gains) of $0.5 million, $6.2 million, and $(3.7) million respectively. See Note 15, “Restructuring” for discussion of the restructuring charges. |
Balance sheet items by reportable segment is set forth below:
(in millions) December 31, |  | 2023 |  | 2022
Goodwill: |  |  |  |
Crane Payment Innovations |  | $ | 626.7 |  |  | $ | 622.4 |
Crane Currency |  | 214.5 |  |  | 214.2 |
Total goodwill |  | $ | 841.2 |  |  | $ | 836.6 |
Assets: |  |  |  |
Crane Payment Innovations |  | $ | 1,279.1 |  |  | $ | 1,266.1 |
Crane Currency |  | 814.4 |  |  | 863.3 |
Corporate |  | 35.9 |  |  | — |
Total assets |  | $ | 2,129.4 |  |  | $ | 2,129.4 |
Summary of Financial Information by Geographic Region | Net sales by geographic region:
(in millions) December 31, |  | 2023 |  | 2022 |  | 2021
Net sales (a) |  |  |  |  |  |
North America |  | $ | 787.1 |  |  | $ | 826.9 |  |  | $ | 791.3 |
Western Europe |  | 196.3 |  |  | 187.8 |  |  | 139.7 |
Rest of the World |  | 407.9 |  |  | 325.2 |  |  | 414.1 |
Total net sales |  | $ | 1,391.3 |  |  | $ | 1,339.9 |  |  | $ | 1,345.1 |
(a) | Net sales by geographic region are based on the destination of the sale.
Long-lived assets by geographic region:
(in millions) December 31, |  | 2023 |  | 2022
Long-lived assets (a) |  |  |  |
North America |  | $ | 159.7 |  |  | $ | 139.2 |
Western Europe |  | 134.7 |  |  | 142.9 |
Rest of the World |  | 14.6 |  |  | 13.6 |
Total long-lived assets |  | $ | 309.0 |  |  | $ | 295.7 |
(a) | Long-lived assets, net by geographic region are based on the location of the business unit and consist of property, plant and equipment and operating lease assets.

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