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v3.25.1

Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Changes to Goodwill | Changes to goodwill are as follows:
(in millions) | Crane Payment Innovations | Security and Authentication Technologies | Total
Balance as of December 31, 2024 | $ | 609.1 |  | $ | 347.5 |  | $ | 956.6 |
Currency translation | 7.3 |  | 0.6 |  | 7.9 |
Balance as of March 31, 2025 | $ | 616.4 |  | $ | 348.1 |  | $ | 964.5 |
Summary of Intangible Assets | Changes to intangible assets are as follows:
(in millions) | Three Months Ended March 31, 2025 |  | Year Ended December 31, 2024
Balance at beginning of period, net of accumulated amortization | $ | 419.3 |  |  | $ | 308.9 |
Additions | 1.4 |  |  | 161.8 |
Amortization expense | (11.3) |  |  | (47.0) |
Currency translation | 2.9 |  |  | (4.4) |
Balance at end of period, net of accumulated amortization | $ | 412.3 |  |  | $ | 419.3 |
A summary of intangible assets are as follows:
| Weighted Average Amortization Period of Finite Lived Assets (in years) |  | March 31, 2025 |  | December 31, 2024
(in millions) |  | Gross Asset |  | Accumulated Amortization |  | Net |  | Gross Asset |  | Accumulated Amortization |  | Net
Intellectual property rights | 11.0 |  | $ | 65.7 |  |  | $ | 16.0 |  |  | $ | 49.7 |  |  | $ | 65.5 |  |  | $ | 15.4 |  |  | $ | 50.1 |
Customer relationships and backlog | 18.9 |  | 616.7 |  |  | 305.4 |  |  | 311.3 |  |  | 610.5 |  |  | 293.9 |  |  | 316.6 |
Developed Technology | 6.8 |  | 68.4 |  |  | 29.4 |  |  | 39.0 |  |  | 66.4 |  |  | 26.8 |  |  | 39.6 |
Other | 12.1 |  | 73.1 |  |  | 60.8 |  |  | 12.3 |  |  | 71.8 |  |  | 58.8 |  |  | 13.0 |
Total | 18.3 |  | $ | 823.9 |  |  | $ | 411.6 |  |  | $ | 412.3 |  |  | $ | 814.2 |  |  | $ | 394.9 |  |  | $ | 419.3 |
Intangible Assets Future Amortization Expense | Future amortization expense associated with intangible assets is expected to be:
(in millions) |
Remainder of 2025 | $ | 34.7 |
2026 | 46.0 |
2027 | 43.6 |
2028 | 38.3 |
2029 | 37.4 |
2030 and after | 166.8 |

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