Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Summary of Financial Information by Reportable Segment

Financial information by reportable segment is set forth below:

(in millions) December 31,	2023		2022		2021
Net Sales:
Crane Payment Innovations	$	886.4	$	874.3	$	805.7
Crane Currency	504.9		465.6		539.4
Total net sales	$	1,391.3	$	1,339.9	$	1,345.1
Operating profit and Income before income taxes:
Crane Payment Innovations	$	242.8	$	217.1	$	164.5
Crane Currency	116.3		117.3		145.1
Corporate	(72.3)		(33.1)		(30.4)
Total operating profit (a)	$	286.8	$	301.3	$	279.2
Interest income	$	1.1	$	0.2	$	0.1
Interest expense	(48.1)		(41.9)		(41.8)
Related party interest expense	(2.5)		(14.4)		(16.1)
Miscellaneous income, net	2.5		3.1		4.7
Income before income taxes	$	239.8	$	248.3	$	226.1
Capital expenditures:
Crane Payment Innovations	$	7.6	$	5.0	$	4.5
Crane Currency	25.9		16.3		14.1
Corporate	1.6		—		—
Total capital expenditures	$	35.1	$	21.3	$	18.6
Depreciation and amortization:
Crane Payment Innovations	$	31.2	$	32.9	$	34.5
Crane Currency	44.2		45.3		46.8
Corporate	2.2		0.5		0.5
Total depreciation and amortization	$	77.6	$	78.7	$	81.8

(a) For the year ended December 31, 2023, 2022 and 2021, operating profit includes net restructuring charges (gains) of $0.5 million, $6.2 million, and $(3.7) million respectively. See Note 15, “Restructuring” for discussion of the restructuring charges.

Balance sheet items by reportable segment is set forth below:

(in millions) December 31,	2023		2022
Goodwill:
Crane Payment Innovations	$	626.7	$	622.4
Crane Currency	214.5		214.2
Total goodwill	$	841.2	$	836.6
Assets:
Crane Payment Innovations	$	1,279.1	$	1,266.1
Crane Currency	814.4		863.3
Corporate	35.9		—
Total assets	$	2,129.4	$	2,129.4

Summary of Financial Information by Geographic Region

Net sales by geographic region:

(in millions) December 31,	2023		2022		2021
Net sales (a)
North America	$	787.1	$	826.9	$	791.3
Western Europe	196.3		187.8		139.7
Rest of the World	407.9		325.2		414.1
Total net sales	$	1,391.3	$	1,339.9	$	1,345.1

(a) Net sales by geographic region are based on the destination of the sale.

Long-lived assets by geographic region:

(in millions) December 31,	2023		2022
Long-lived assets (a)
North America	$	159.7	$	139.2
Western Europe	134.7		142.9
Rest of the World	14.6		13.6
Total long-lived assets	$	309.0	$	295.7

(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.