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Restructuring (Tables) | 12 Months Ended
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Dec. 31, 2024
Restructuring and Related Activities [Abstract] |
Summary of Restructuring Charges | We recorded restructuring charges which are reflected in the Consolidated and Combined Statements of Operations, as follows:
(in millions) For the year ended December 31, |  | 2024 |  | 2023 |  | 2022
Crane Payment Innovations |  | $ | 10.1 |  |  | $ | 0.5 |  |  | $ | 6.2 |
Total restructuring charges |  | $ | 10.1 |  |  | $ | 0.5 |  |  | $ | 6.2 |
The following table summarizes our restructuring charges by program, cost type and segment for the years ended December 31, 2024, 2023 and 2022:
For the years ended December 31, | 2024 |  | 2023 |  | 2022
(in millions) | Severance |  | Other |  | Total |  | Severance |  | Other |  | Total |  | Severance |  | Other |  | Total
Crane Payment Innovations | $ | 10.1 |  |  | $ | — |  |  | $ | 10.1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
2024 Restructuring | 10.1 |  |  | — |  |  | 10.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
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 |
Total | $ | 10.1 |  |  | $ | — |  |  | $ | 10.1 |  |  | $ | 0.1 |  |  | $ | 0.4 |  |  | $ | 0.5 |  |  | $ | 5.7 |  |  | $ | 0.5 |  |  | $ | 6.2 |
The following table summarizes the cumulative restructuring charges incurred through December 31, 2024.
| Cumulative Restructuring Charges
(in millions) | Severance | Other | Total
Crane Payment Innovations | $ | 10.1 |  | $ | — |  | $ | 10.1 |
2024 Restructuring | $ | 10.1 |  | $ | — |  | $ | 10.1 |
Crane Payment Innovations | $ | 5.8 |  | $ | 0.9 |  | $ | 6.7 |
2022 Restructuring | $ | 5.8 |  | $ | 0.9 |  | $ | 6.7 |
Restructuring Liability The following table summarizes the accrual balances related to these restructuring charges by program:
(in millions) |  | 2024 Restructuring |  | 2022 Restructuring |  |  | Total
Severance: |  |  |  |  |  |  |
Balance as of December 31, 2022 (a) |  | $ | — |  |  | $ | 6.0 |  |  |  | $ | 6.0 |
Expense (b) |  | — |  |  | 0.5 |  |  |  | 0.5 |
Utilization |  | — |  |  | (5.9) |  |  |  | (5.9) |
Balance as of December 31, 2023 (a) |  | $ | — |  |  | $ | 0.6 |  |  |  | $ | 0.6 |
Expense (b) |  | 10.1 |  |  | — |  |  |  | 10.1 |
Utilization |  | (2.9) |  |  | (0.4) |  |  |  | (3.3) |
Balance as of December 31, 2024 (a) |  | $ | 7.2 |  |  | $ | 0.2 |  |  |  | $ | 7.4 |
(a) | Included within Accrued Liabilities in the Consolidated Balance Sheets.
(b) | Included within “Restructuring charges” in the Consolidated and Combined Statements of Operations.

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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