Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

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

As of March 31, 2025, we had $412.3 million of net intangible assets, of which $45.5 million were intangibles with indefinite useful lives. As of December 31, 2024, we had $419.3 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, 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

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