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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Changes to goodwill are as follows:
(in millions) | Crane Payment Innovations | Crane Currency | Total
Balance as of December 31, 2023 | $ | 626.7 |  | $ | 214.5 |  | $ | 841.2 |
Currency translation | (10.6) |  | (0.5) |  | (11.1) |
Balance as of March 31, 2024 | $ | 616.1 |  | $ | 214.0 |  | $ | 830.1 |
As of March 31, 2024, we had $297.0 million of net intangible assets, of which $45.5 million were intangibles with indefinite useful lives. As of December 31, 2023, we had $308.9 million of net intangible assets, of which $45.5 million were intangibles with indefinite useful lives. Changes to intangible assets are as follows:
(in millions) | Three Months Ended March 31, 2024 |  | Year Ended December 31, 2023
Balance at beginning of period, net of accumulated amortization | $ | 308.9 |  |  | $ | 344.9 |
Amortization expense | (8.9) |  |  | (35.9) |
Currency translation and other | (3.0) |  |  | (0.1) |
Balance at end of period, net of accumulated amortization | $ | 297.0 |  |  | $ | 308.9 |
A summary of intangible assets are as follows:
|  |  | March 31, 2024 |  | December 31, 2023
(in millions) | Weighted Average Amortization Period of Finite Lived Assets (in years) |  | Gross Asset |  | Accumulated Amortization |  | Net |  | Gross Asset |  | Accumulated Amortization |  | Net
Intellectual property rights | 12.5 |  | $ | 62.0 |  |  | $ | 14.9 |  |  | $ | 47.1 |  |  | $ | 62.2 |  |  | $ | 15.0 |  |  | $ | 47.2 |
Customer relationships and backlog | 18.8 |  | 497.1 |  |  | 271.5 |  |  | 225.6 |  |  | 504.4 |  |  | 269.5 |  |  | 234.9 |
Other | 10.0 |  | 98.7 |  |  | 74.4 |  |  | 24.3 |  |  | 99.8 |  |  | 73.0 |  |  | 26.8 |
Total | 18.0 |  | $ | 657.8 |  |  | $ | 360.8 |  |  | $ | 297.0 |  |  | $ | 666.4 |  |  | $ | 357.5 |  |  | $ | 308.9 |
Future amortization expense associated with intangible assets is expected to be:
(in millions) |
Remainder of 2024 | $ | 26.9 |
2025 | 30.2 |
2026 | 30.0 |
2027 | 29.1 |
2028 | 26.2 |
2029 and after | 109.1 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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