XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Goodwill and Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 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 | Security and Authentication Technologies | Total
Balance as of December 31, 2023 | $ | 626.7 |  | $ | 214.5 |  | $ | 841.2 |
Additions | — |  | 123.1 |  | 123.1 |
Currency translation | (15.3) |  | 1.4 |  | (13.9) |
Balance as of June 30, 2024 | $ | 611.4 |  | $ | 339.0 |  | $ | 950.4 |
As of June 30, 2024, we had $443.6 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) | Six Months Ended June 30, 2024 |  | Year Ended December 31, 2023
Balance at beginning of period, net of accumulated amortization | $ | 308.9 |  |  | $ | 344.9 |
Additions | 159.3 |  |  | — |
Amortization expense | (20.2) |  |  | (35.9) |
Currency translation and other | (4.4) |  |  | (0.1) |
Balance at end of period, net of accumulated amortization | $ | 443.6 |  |  | $ | 308.9 |
A summary of intangible assets are as follows:
|  |  | June 30, 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 | 11.3 |  | $ | 66.2 |  |  | $ | 15.0 |  |  | $ | 51.2 |  |  | $ | 62.2 |  |  | $ | 15.0 |  |  | $ | 47.2 |
Customer relationships and backlog | 18.9 |  | 611.7 |  |  | 277.5 |  |  | 334.2 |  |  | 504.4 |  |  | 269.5 |  |  | 234.9 |
Developed Technology | 6.9 |  | 63.6 |  |  | 22.6 |  |  | 41.0 |  |  | 26.3 |  |  | 21.2 |  |  | 5.1 |
Other | 9.9 |  | 72.6 |  |  | 55.4 |  |  | 17.2 |  |  | 73.5 |  |  | 51.8 |  |  | 21.7 |
Total | 18.0 |  | $ | 814.1 |  |  | $ | 370.5 |  |  | $ | 443.6 |  |  | $ | 666.4 |  |  | $ | 357.5 |  |  | $ | 308.9 |
Future amortization expense associated with intangible assets is expected to be:
(in millions) |
Remainder of 2024 | $ | 26.4 |
2025 | 44.1 |
2026 | 43.9 |
2027 | 41.5 |
2028 | 37.6 |
2029 and after | 204.6 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration