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Restructuring (Tables) | 12 Months Ended
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Dec. 31, 2023
Restructuring and Related Activities [Abstract] |
Summary of Restructuring Charges | We recorded restructuring charges (gains) which are reflected in the Consolidated and Combined Statements of Operations, as follows:
(in millions) For the year ended December 31, |  | 2023 |  | 2022 |  | 2021
Crane Payment Innovations |  | $ | 0.5 |  |  | $ | 6.2 |  |  | $ | (0.9) |
Crane Currency |  | — |  |  | — |  |  | (2.8) |
Total restructuring charges (gains), net |  | $ | 0.5 |  |  | $ | 6.2 |  |  | $ | (3.7) |
The following table summarizes our restructuring charges (gains), net by program, cost type and segment for the years ended December 31, 2023, 2022 and 2021:
For the years ended December 31, | 2023 |  | 2022 | 2021
(in millions) | Severance |  | Other |  | Total |  | Severance |  | Other |  | Total |  | Severance |  | Other |  | Total
Crane Payment Innovations | $ | 0.1 |  |  | $ | 0.4 |  |  | $ | 0.5 |  |  | $ | 5.7 |  |  | $ | 0.5 |  |  | $ | 6.2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
2022 Restructuring | 0.1 |  |  | 0.4 |  |  | 0.5 |  |  | 5.7 |  |  | 0.5 |  |  | 6.2 |  |  | — |  |  | — |  |  | — |
Crane Payment Innovations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.8) |  | (a) | $ | — |  |  | $ | (0.8) |
Crane Currency | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2.8) |  |  | (2.8) |
2020 Restructuring | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.8) |  | (a) | (2.8) |  |  | (3.6) |
Crane Payment Innovations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.2) |  | (a) | $ | — |  |  | $ | (0.2) |
2017 Restructuring | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.2) |  | (a) | — |  |  | (0.2) |
Total | $ | 0.1 |  |  | $ | 0.4 |  |  | $ | 0.5 |  |  | $ | 5.7 |  |  | $ | 0.5 |  |  | $ | 6.2 |  |  | $ | (1.0) |  |  | $ | (2.8) |  |  | $ | (3.8) |
(a) | Reflects changes in estimates for increases and decreases in costs related to our restructuring programs.
The following table summarizes the cumulative restructuring charges incurred through December 31, 2023.
| Cumulative Restructuring Charges
(in millions) | Severance | Other | Total
Crane Payment Innovations | $ | 5.8 |  | $ | 0.9 |  | $ | 6.7 |
2022 Restructuring | $ | 5.8 |  | $ | 0.9 |  | $ | 6.7 |
Crane Payment Innovations | $ | 15.8 |  | $ | 0.7 |  | $ | 16.5 |
Crane Currency | — |  | 1.1 |  | 1.1 |
2020 Restructuring | $ | 15.8 |  | $ | 1.8 |  | $ | 17.6 |
Crane Payment Innovations | $ | 11.4 |  | $ | 0.3 |  | $ | 11.7 |
Crane Currency | 0.1 |  | 0.4 |  | 0.5 |
2017 Restructuring | $ | 11.5 |  | $ | 0.7 |  | $ | 12.2 |
Restructuring Liability The following table summarizes the accrual balances related to these restructuring charges by program:
(in millions) |  | 2022 Restructuring | 2020 Restructuring | 2017 Restructuring |  |  | Total
Severance: |  |  |  |  |  |  |
Balance as of December 31, 2021 (b) |  | $ | — |  | $ | — |  | $ | 0.1 |  |  |  | $ | 0.1 |
Expense (a) |  | 6.2 |  | — |  | — |  |  |  | 6.2 |
Utilization |  | (0.2) |  | — |  | (0.1) |  |  |  | (0.3) |
Balance as of December 31, 2022 (b) |  | $ | 6.0 |  | $ | — |  | $ | — |  |  |  | $ | 6.0 |
Expense (a) |  | 0.5 |  | — |  | — |  |  |  | 0.5 |
Utilization |  | (5.9) |  | — |  | — |  |  |  | (5.9) |
Balance as of December 31, 2023 (b) |  | $ | 0.6 |  | $ | — |  | $ | — |  |  |  | $ | 0.6 |
(a) | Included within “Restructuring charges (gains), net” in the Consolidated and Combined Statements of Operations.
(b) | Included within Accrued Liabilities in the Consolidated and Combined Balance Sheets.

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