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CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - USD ($)
$ in Millions
Total
Common Shares Issued at Par Value
Capital Surplus
Retained Earnings
Accumulated Other Comprehensive Loss
Treasury Stock
Crane Net Investment
Beginning balance at Dec. 31, 2021 $ 763.8       $ (72.3)   $ 836.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 49.5           49.5
Net transfers from (to) Crane 22.9           22.9
Stock-based compensation expense 2.1           2.1
Changes in pension and postretirement plan assets and benefit obligation, net of tax (0.2)       (0.2)    
Currency translation adjustment (16.1)       (16.1)    
Ending balance at Mar. 31, 2022 776.2       (88.6)   864.8
Beginning balance at Dec. 31, 2021 763.8       (72.3)   836.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 98.3            
Changes in pension and postretirement plan assets and benefit obligation, net of tax (0.4)            
Currency translation adjustment (62.2)            
Ending balance at Jun. 30, 2022 731.1       (134.9)   866.0
Beginning balance at Mar. 31, 2022 776.2       (88.6)   864.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 48.8           48.8
Net transfers from (to) Crane 50.0           50.0
Stock-based compensation expense 2.4           2.4
Changes in pension and postretirement plan assets and benefit obligation, net of tax (0.2)       (0.2)    
Currency translation adjustment (46.1)       (46.1)    
Ending balance at Jun. 30, 2022 731.1       (134.9)   866.0
Beginning balance at Dec. 31, 2022 783.8 $ 0.0 $ 0.0 $ 0.0 (131.5) $ 0.0 915.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 43.7           43.7
Net transfers from (to) Crane (393.1)           (393.1)
Stock-based compensation expense 2.3           2.3
Changes in pension and postretirement plan assets and benefit obligation, net of tax (0.5)       (0.5)    
Currency translation adjustment 4.9       4.9    
Ending balance at Mar. 31, 2023 441.1 0.0 0.0 0.0 (127.1) 0.0 568.2
Beginning balance at Dec. 31, 2022 783.8 0.0 0.0 0.0 (131.5) 0.0 915.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 86.9            
Changes in pension and postretirement plan assets and benefit obligation, net of tax (1.0)            
Currency translation adjustment 1.8            
Ending balance at Jun. 30, 2023 855.2 72.4 1,722.6 35.3 (130.7) (844.4) 0.0
Beginning balance at Mar. 31, 2023 441.1 0.0 0.0 0.0 (127.1) 0.0 568.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 43.2     43.2      
Cash dividends (7.9)     (7.9)      
Dividend from Crane 275.0           275.0
Net transfers from (to) Crane 103.9           103.9
Reclassification of Crane Net Investment to Common Stock, Treasury Stock and Capital Surplus 0.0 72.4 1,722.8     (848.1) (947.1)
Exercise of stock options, net of shares reacquired of 64,105 shares 1.9         1.9  
Impact from settlement of share-based awards, net of shares acquired 0.0   (1.8)     1.8  
Stock-based compensation expense 1.9   1.9        
Stock-based compensation reclassification [1] (0.3)   (0.3)        
Changes in pension and postretirement plan assets and benefit obligation, net of tax (0.5)       (0.5)    
Currency translation adjustment (3.1)       (3.1)    
Ending balance at Jun. 30, 2023 $ 855.2 $ 72.4 $ 1,722.6 $ 35.3 $ (130.7) $ (844.4) $ 0.0
[1] Reclassification of stock-based compensation due to modification resulting from equity award conversions. See Note 1, “Organization and Basis of Presentation” for additional information.