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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Summary of Financial Information by Reportable Segment | Financial information by reportable segment is set forth below:
(in millions) Year ended December 31, 2024 |  | Crane Payment Innovations |  | Security and Authentication Technologies |  | Corporate |  | Total
Net Sales |  | $ | 873.2 |  |  | $ | 613.6 |  |  | $ | — |  |  | $ | 1,486.8 |
Less: |  |  |  |  |  |  |  |
Cost of operations |  | 394.2 |  |  | 323.6 |  |  | — |  |  |
Selling and administrative expense |  | 160.6 |  |  | 94.2 |  |  | (70.5) |  |  |
Engineering expense |  | 43.8 |  |  | 27.2 |  |  | — |  |  |
Other segment items (a) |  | 46.2 |  |  | 57.7 |  |  | — |  |  |
Operating profit (loss) |  | 228.4 |  |  | 110.9 |  |  | (70.5) |  |  | 268.8 |
Interest income |  |  |  |  |  |  |  | 1.6 |
Interest expense |  |  |  |  |  |  |  | (47.8) |
Miscellaneous income, net |  |  |  |  |  |  |  | 3.8 |
Income before income taxes |  |  |  |  |  |  |  | $ | 226.4 |
Capital expenditures |  | $ | 7.9 |  |  | $ | 37.5 |  |  | $ | 0.1 |  |  | $ | 45.5 |
Depreciation and amortization |  | $ | 29.3 |  |  | $ | 55.1 |  |  | $ | 2.4 |  |  | $ | 86.8 |
(in millions) Year ended December 31, 2023 |  | Crane Payment Innovations |  | Security and Authentication Technologies |  | Corporate |  | Total
Net Sales |  | $ | 886.4 |  |  | $ | 504.9 |  |  | $ | — |  |  | $ | 1,391.3 |
Less: |  |  |  |  |  |  |  |
Cost of operations |  | 373.3 |  |  | 297.6 |  |  | — |  |  |
Selling and administrative expense |  | 152.9 |  |  | 72.1 |  |  | 72.3 |  |  |
Engineering expense |  | 51.5 |  |  | 18.7 |  |  | — |  |  |
Other segment items (a) |  | 65.9 |  |  | 0.2 |  |  | — |  |  |
Operating profit (loss) |  | 242.8 |  |  | 116.3 |  |  | (72.3) |  |  | 286.8 |
Interest income |  |  |  |  |  |  |  | 1.1 |
Interest expense |  |  |  |  |  |  |  | (48.1) |
Related party interest expense |  |  |  |  |  |  |  | (2.5) |
Miscellaneous income, net |  |  |  |  |  |  |  | 2.5 |
Income before income taxes |  |  |  |  |  |  |  | $ | 239.8 |
Capital expenditures |  | $ | 7.6 |  |  | $ | 25.9 |  |  | $ | 1.6 |  |  | 35.1 |
Depreciation and amortization |  | $ | 31.2 |  |  | $ | 44.2 |  |  | $ | 2.2 |  |  | 77.6 |
(in millions) Year ended December 31, 2022 |  | Crane Payment Innovations |  | Security and Authentication Technologies |  | Corporate |  | Total
Net Sales |  | $ | 874.3 |  |  | $ | 465.6 |  |  | $ | — |  |  | $ | 1,339.9 |
Less: |  |  |  |  |  |  |  |
Cost of operations |  | 369.6 |  |  | 238.2 |  |  | — |  |  |
Selling and administrative expense |  | 156.3 |  |  | 67.5 |  |  | 33.1 |  |  |
Engineering expense |  | 56.7 |  |  | 11.3 |  |  | — |  |  |
Other segment items (a) |  | 74.6 |  |  | 31.3 |  |  | — |  |  |
Operating profit (loss) |  | 217.1 |  |  | 117.3 |  |  | (33.1) |  |  | 301.3 |
Interest income |  |  |  |  |  |  |  | 0.2 |
Interest expense |  |  |  |  |  |  |  | (41.9) |
Related party interest expense |  |  |  |  |  |  |  | (14.4) |
Miscellaneous income, net |  |  |  |  |  |  |  | 3.1 |
Income before income taxes |  |  |  |  |  |  |  | $ | 248.3 |
Capital expenditures |  | $ | 5.0 |  |  | $ | 16.3 |  |  | $ | — |  |  | 21.3 |
Depreciation and amortization |  | $ | 32.9 |  |  | $ | 45.3 |  |  | $ | 0.5 |  |  | 78.7 |
(a) | Includes other cost of operations such as manufacturing costs, amortization expenses, shipping and handling costs, and certain overhead expenses, as well as corporate allocations. |
Balance sheet items by reportable segment is set forth below:
(in millions) December 31, |  | 2024 |  | 2023
Goodwill: |  |  |  |
Crane Payment Innovations |  | $ | 609.1 |  |  | $ | 626.7 |
Security and Authentication Technologies |  | 347.5 |  |  | 214.5 |
Total goodwill |  | $ | 956.6 |  |  | $ | 841.2 |
Assets: |  |  |  |
Crane Payment Innovations |  | $ | 1,187.1 |  |  | $ | 1,279.1 |
Security and Authentication Technologies |  | 1,178.2 |  |  | 814.4 |
Corporate |  | 21.2 |  |  | 35.9 |
Total assets |  | $ | 2,386.5 |  |  | $ | 2,129.4 |
Summary of Financial Information by Geographic Region | Net sales by geographic region:
(in millions) December 31, |  | 2024 |  | 2023 |  | 2022
Net sales (a) |  |  |  |  |  |
North America |  | $ | 804.8 |  |  | $ | 787.1 |  |  | $ | 826.9 |
Western Europe |  | 162.1 |  |  | 196.3 |  |  | 187.8 |
Rest of the World |  | 519.9 |  |  | 407.9 |  |  | 325.2 |
Total net sales |  | $ | 1,486.8 |  |  | $ | 1,391.3 |  |  | $ | 1,339.9 |
(a) | Net sales by geographic region are based on the destination of the sale.
Long-lived assets by geographic region:
(in millions) December 31, |  | 2024 |  | 2023
Long-lived assets (a) |  |  |  |
North America |  | $ | 187.3 |  |  | $ | 159.7 |
Western Europe |  | 129.1 |  |  | 134.7 |
Rest of the World |  | 16.3 |  |  | 14.6 |
Total long-lived assets |  | $ | 332.7 |  |  | $ | 309.0 |
(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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