Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes to Goodwill

Changes to goodwill are as follows:

(in millions)	Crane Payment Innovations		Crane Currency		Total
Balance as of December 31, 2022	$	622.4	$	214.2	$	836.6
Currency translation	(1.1)		(0.2)		(1.3)
Balance as of June 30, 2023	$	621.3	$	214.0	$	835.3

Summary of Intangible Assets

Changes to intangible assets are as follows:

(in millions)	Six Months Ended June 30, 2023		Year Ended December 31, 2022
Balance at beginning of period, net of accumulated amortization	$	344.9	$	388.5
Amortization expense	(18.1)		(36.0)
Currency translation and other	(1.8)		(7.6)
Balance at end of period, net of accumulated amortization	$	325.0	$	344.9

A summary of intangible assets are as follows:

		June 30, 2023						December 31, 2022
(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	10.3	$	62.1	$	14.5	$	47.6	$	62.0	$	14.0	$	48.0
Customer relationships and backlog	18.8	500.6		254.4		246.2		502.9		242.0		260.9
Other	10.0	98.9		67.7		31.2		98.7		62.7		36.0
Total	18.0	$	661.6	$	336.6	$	325.0	$	663.6	$	318.7	$	344.9

Intangible Assets Future Amortization Expense

Future amortization expense associated with intangible assets is expected to be:

(in millions)
Remainder of 2023	$	18.2
2024	35.7
2025	30.3
2026	30.1
2027	29.3
2028 and after	135.9