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Pay vs Performance Disclosure - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Apr. 03, 2023
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure              
Pay vs Performance Disclosure, Table    
Pay Versus Performance Table
Fiscal Year
Summary
Compensation
Table
Total for
First
PEO(1)
($)
Summary
Compensation
Table
Total for
Second
PEO(1)
($)
Compensation
Actually
Paid to
First
PEO(1)(2)(3)
($)
Compensation
Actually
Paid to
Second
PEO(1)(2)(3)
($)
Average
Summary
Compensation
Table
Total for
Non-PEO
NEOs(1)
($)
Average
Compensation
Actually
Paid to
Non-PEO
NEOs(1)(2)(3)
($)
Value of Initial Fixed $100
Investment Based On:(4)
 
 
Total
Shareholder
Return
($)
Peer Group
Total
Shareholder
Return(4)
($)
Net
Income
in millions(5)
($)
Adjusted
Operating
Profit
in millions(6)
($)
2024
6,423,788
6,703,814
1,622,380
1,824,406
216
219
184.1
347.3
2023
7,172,988
6,299,752
15,203,422
9,602,286
1,884,433
3,138,399
208
190
188.3
345.2
2022
9,316,556
10,823,056
2,368,300
2,520,280
124
133
204.9
343.5
2021
9,484,490
13,917,645
2,183,277
2,995,405
123
150
178.0
312.8
2020
6,361,666
2,420,223
1,595,008
1,044,106
92
118
25.1
282.1
(1)
Former Chief Executive Officer Max H. Mitchell was our PEO from 2014 until the separation on April 3, 2023. Current Chief Executive Officer Aaron W. Saak was appointed to this role in November 2022 and has served as PEO from April 3, 2023 to present. The individuals comprising the non-PEO NEOs for each year presented are listed below.
2020
2021
2022
2023
2024
Richard A. Maue
Richard A. Maue
Richard A. Maue
Richard A. Maue
Christina Cristiano
Kurt F. Gallo
Kurt F. Gallo
Aaron W. Saak
Paul G. Igoe
Kurt F. Gallo
Anthony M. D’Iorio
Anthony M. D’Iorio
Kurt F. Gallo
Christina Cristiano
Paul G. Igoe
Alejandro Alcala
Alejandro Alcala
Anthony M. D’Iorio
Jennifer Kartono
Jennifer Kartono
 
 
 
Kurt F. Gallo
Samuel Keayes
(2)
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized or received by the Company’s NEOs. These amounts reflect the Summary Compensation Tables Total with certain adjustments as described in footnote 3 below.
(3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Options Awards columns set forth in the Summary Compensation Table.
Fiscal Year
Summary Compensation
Table Total for Second PEO
($)
Exclusion of Stock Awards and
Option Awards for Second PEO
($)
Inclusion of Equity Values
for Second PEO(a)
($)
Compensation
Actually
Paid to Second PEO
($)
2024
6,423,788
(4,774,351)
5,054,377
6,703,814
Fiscal Year
Average Summary Compensation
Table Total for non-PEO NEOs
($)
Average Exclusion of Stock Awards
and Option Awards for non-PEO NEOs
($)
Average Inclusion of
Equity Values for non-PEO
NEOs(a)
($)
Average
Compensation
Actually
Paid to non-PEO
NEOs
($)
2024
1,622,380
(757,700)
959,726
1,824,406
(a)
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
Fiscal Year
Year-End Fair
Value of
Equity Awards
Granted
During Year
that Remained
Unvested as of
Last Day of
Year for
Second PEO
($)
Change in Fair
Value from Last
Day of Prior Year
to Last Day of Year
of Unvested Equity
Awards for Second
PEO
($)
Vesting Date Fair
Value of Equity
Awards Granted
During Year that
Vested During
Year for Second
PEO
($)
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested
During Year
for Second
PEO
($)
Fair Value at Last
Day of Prior Year
of Equity Awards
Forfeited During
Year for Second
PEO
($)
Value of
Dividends or
Other Earnings
Paid on Equity
Awards
not Otherwise
Included for
Second PEO
($)
Total –
Inclusion of
Equity Values
for Second
PEO
2024
4,691,881
205,114
157,382
5,054,377
Fiscal Year
Average Year-
End Fair Value
of Equity
Awards
Granted During
Year that
Remained
Unvested as of
Last Day of
Year for non-
PEO NEOs
($)
Average Change
in Fair Value
from Last Day of
Prior Year to Last
Day of Year of
Unvested Equity
Awards for non-
PEO NEOs
($)
Average
Vesting Date
Fair Value of
Equity Awards
Granted
During Year
that Vested
During Year
for non-PEO
NEOs
($)
Average
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting
Date of
Unvested
Equity
Awards that
Vested
During Year
for non-PEO
NEOs
($)
Average Fair
Value at Last Day
of Prior Year of
Equity Awards
Forfeited During
Year for non-PEO
NEOs
($)
Average Value of
Dividends or
Other Earnings
Paid on Equity Awards
not Otherwise
Included for non-PEO
NEOs
($)
Total – Average
Inclusion of Equity
Values for non-
PEO NEOs
2024
744,613
145,482
69,631
959,726
(4)
The Peer Group TSR set forth in this table utilizes the S&P MidCap Capital Goods Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2024. The comparison assumes $100 was invested for the period starting December 31, 2019 through the end of the listed year in the Company and in the S&P 400 MidCap Capital Goods Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
(5)
The dollar amounts reported represent the amount of net income as required to be reflected in the Company’s audited financial statements for the applicable year.
(6)
We determined Adjusted Operating Profit to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and non-PEO NEOs in 2024. This performance measure may not have been the most important financial performance measure for years 2023, 2022, 2021 and 2020. For purposes of this table, we consistently applied the same methodology for calculating Adjusted Operating Profit across all covered fiscal years as used in 2024. Adjusted Operating Profit is a non-GAAP metric. See the “Non-GAAP Information” section below for a detailed description of how Adjusted Operating Profit is calculated from our audited financial statements. For further information on how Adjusted Operating Profit was used in our 2024 Annual Incentive Compensation program, see page 29.
       
Company Selected Measure Name     Adjusted Operating Profit        
Named Executive Officers, Footnote    
(1)
Former Chief Executive Officer Max H. Mitchell was our PEO from 2014 until the separation on April 3, 2023. Current Chief Executive Officer Aaron W. Saak was appointed to this role in November 2022 and has served as PEO from April 3, 2023 to present. The individuals comprising the non-PEO NEOs for each year presented are listed below.
2020
2021
2022
2023
2024
Richard A. Maue
Richard A. Maue
Richard A. Maue
Richard A. Maue
Christina Cristiano
Kurt F. Gallo
Kurt F. Gallo
Aaron W. Saak
Paul G. Igoe
Kurt F. Gallo
Anthony M. D’Iorio
Anthony M. D’Iorio
Kurt F. Gallo
Christina Cristiano
Paul G. Igoe
Alejandro Alcala
Alejandro Alcala
Anthony M. D’Iorio
Jennifer Kartono
Jennifer Kartono
 
 
 
Kurt F. Gallo
Samuel Keayes
       
Peer Group Issuers, Footnote    
(4)
The Peer Group TSR set forth in this table utilizes the S&P MidCap Capital Goods Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2024. The comparison assumes $100 was invested for the period starting December 31, 2019 through the end of the listed year in the Company and in the S&P 400 MidCap Capital Goods Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
       
Adjustment To PEO Compensation, Footnote    
(3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Options Awards columns set forth in the Summary Compensation Table.
Fiscal Year
Summary Compensation
Table Total for Second PEO
($)
Exclusion of Stock Awards and
Option Awards for Second PEO
($)
Inclusion of Equity Values
for Second PEO(a)
($)
Compensation
Actually
Paid to Second PEO
($)
2024
6,423,788
(4,774,351)
5,054,377
6,703,814
(a)
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
Fiscal Year
Year-End Fair
Value of
Equity Awards
Granted
During Year
that Remained
Unvested as of
Last Day of
Year for
Second PEO
($)
Change in Fair
Value from Last
Day of Prior Year
to Last Day of Year
of Unvested Equity
Awards for Second
PEO
($)
Vesting Date Fair
Value of Equity
Awards Granted
During Year that
Vested During
Year for Second
PEO
($)
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested
During Year
for Second
PEO
($)
Fair Value at Last
Day of Prior Year
of Equity Awards
Forfeited During
Year for Second
PEO
($)
Value of
Dividends or
Other Earnings
Paid on Equity
Awards
not Otherwise
Included for
Second PEO
($)
Total –
Inclusion of
Equity Values
for Second
PEO
2024
4,691,881
205,114
157,382
5,054,377
       
Non-PEO NEO Average Total Compensation Amount     $ 1,622,380 $ 1,884,433 $ 2,368,300 $ 2,183,277 $ 1,595,008
Non-PEO NEO Average Compensation Actually Paid Amount     $ 1,824,406 3,138,399 2,520,280 2,995,405 1,044,106
Adjustment to Non-PEO NEO Compensation Footnote    
(3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Options Awards columns set forth in the Summary Compensation Table.
Fiscal Year
Average Summary Compensation
Table Total for non-PEO NEOs
($)
Average Exclusion of Stock Awards
and Option Awards for non-PEO NEOs
($)
Average Inclusion of
Equity Values for non-PEO
NEOs(a)
($)
Average
Compensation
Actually
Paid to non-PEO
NEOs
($)
2024
1,622,380
(757,700)
959,726
1,824,406
(a)
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
Fiscal Year
Average Year-
End Fair Value
of Equity
Awards
Granted During
Year that
Remained
Unvested as of
Last Day of
Year for non-
PEO NEOs
($)
Average Change
in Fair Value
from Last Day of
Prior Year to Last
Day of Year of
Unvested Equity
Awards for non-
PEO NEOs
($)
Average
Vesting Date
Fair Value of
Equity Awards
Granted
During Year
that Vested
During Year
for non-PEO
NEOs
($)
Average
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting
Date of
Unvested
Equity
Awards that
Vested
During Year
for non-PEO
NEOs
($)
Average Fair
Value at Last Day
of Prior Year of
Equity Awards
Forfeited During
Year for non-PEO
NEOs
($)
Average Value of
Dividends or
Other Earnings
Paid on Equity Awards
not Otherwise
Included for non-PEO
NEOs
($)
Total – Average
Inclusion of Equity
Values for non-
PEO NEOs
2024
744,613
145,482
69,631
959,726
       
Compensation Actually Paid vs. Total Shareholder Return    
Relationship Between Compensation Actually Paid and Company TSR and Peer Group TSR
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our non-PEO NEOs, and the Company’s cumulative TSR over the five most recently completed fiscal years, and the Peer Group TSR over the same period.
       
Compensation Actually Paid vs. Net Income    
Relationship Between Compensation Actually Paid and Company Net Income
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our non-PEO NEOs, and our Consolidated Net Income during the five most recently completed fiscal years.
       
Compensation Actually Paid vs. Company Selected Measure    
Relationship Between Compensation Actually Paid and Adjusted Operating Profit
The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, and our Adjusted Operating Profit during the five most recently completed fiscal years.
       
Total Shareholder Return Vs Peer Group    
Relationship Between Compensation Actually Paid and Company TSR and Peer Group TSR
The following chart sets forth the relationship between Compensation Actually Paid to our PEOs, the average of Compensation Actually Paid to our non-PEO NEOs, and the Company’s cumulative TSR over the five most recently completed fiscal years, and the Peer Group TSR over the same period.
       
Tabular List, Table    
Financial Performance Measures
As described in greater detail in the Compensation Discussion and Analysis section of this Proxy Statement, the Company’s executive compensation program reflects a pay-for-performance philosophy. The metrics that the Company uses for both our long-term and short-term incentive awards are selected based on an objective of incentivizing our NEOs to increase the value of our enterprise for our shareholders. The most important financial performance measures used by the Company to link executive compensation actually paid to the Company’s NEOs, for the most recently completed fiscal year, to the Company’s performance are as follows:
Adjusted Operating Profit;
Adjusted Free Cash Flow;
Revenue; and
Relative Total Shareholder Return.
Revenue, Adjusted Operating Profit and Adjusted Free Cash Flow for 2024 bonus calculation purposes under the 2024 Annual Incentive Plan were calculated excluding all revenue earned, costs incurred and free cash flow generated by OpSec Security, which we acquired in May 2024, as well as Corporate costs related to the acquisition. Adjusted Operating Profit and Adjusted Free Cash Flow are non-GAAP metrics. See “Non-GAAP Information” section below for a description of how these metrics are calculated. As described in more detail thereunder, in addition to the exclusion of OpSec Security and Corporate costs related to the acquisition, these metrics were further adjusted by the Committee for special, one-time items, none of which were recurring in nature, for 2024 bonus calculation purposes under the 2024 Annual Incentive Plan, which adjustments may in some cases differ from the adjustments made for financial reporting purposes.
       
Total Shareholder Return Amount     $ 216 208 124 123 92
Peer Group Total Shareholder Return Amount     219 190 133 150 118
Net Income (Loss)     $ 184,100,000 $ 188,300,000 $ 204,900,000 $ 178,000,000 $ 25,100,000
Company Selected Measure Amount     347,300,000 345,200,000 343,500,000 312,800,000 282,100,000
PEO Name Max H. Mitchell Aaron W. Saak Aaron W. Saak   Max H. Mitchell Max H. Mitchell Max H. Mitchell
Additional 402(v) Disclosure    
As required by Section 953(a) of the Dodd-Frank Act, and Item 402(v) of Regulation S-K, we are providing certain information, including information about the relationship between executive compensation actually paid to certain individuals by the Company and certain financial performance of the Company. For further information concerning the Company’s pay-for-performance philosophy and how the Company aligns NEO compensation with the Company’s performance, refer to the Compensation Discussion and Analysis section of this Proxy Statement. The Compensation Committee did not consider the pay versus performance disclosure below in making its pay decisions for any of the years shown. Any differences in total values are due to rounding.
As part of the separation transaction in April 2023, the Aerospace & Electronics, Process Flow Technologies and Engineered Materials businesses of the pre-separation Crane Holdings, Co. were spun off to Crane Company, and the Payment and Merchandising Technologies business was retained by the Company. The disclosure presented below for years prior to 2023 (including Adjusted Operating Profit and net income, but not total shareholder return) is presented on a carve out basis and does not reflect the combined business on whose performance the NEOs were actually compensated. Also as part of the separation transaction in April 2023, each pre-separation outstanding award held by Mr. Gallo and Ms. Cristiano was converted to an award covering Crane NXT stock and an award covering Crane Company stock. The awards covering Crane Company stock vest based on continued service to Crane NXT. Consequently, such Crane Company stock awards are included as compensation to Mr. Gallo and Ms. Cristiano in this disclosure.
       
Equity Awards Adjustments, Footnote    
(a)
The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
Fiscal Year
Year-End Fair
Value of
Equity Awards
Granted
During Year
that Remained
Unvested as of
Last Day of
Year for
Second PEO
($)
Change in Fair
Value from Last
Day of Prior Year
to Last Day of Year
of Unvested Equity
Awards for Second
PEO
($)
Vesting Date Fair
Value of Equity
Awards Granted
During Year that
Vested During
Year for Second
PEO
($)
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting Date
of Unvested
Equity
Awards that
Vested
During Year
for Second
PEO
($)
Fair Value at Last
Day of Prior Year
of Equity Awards
Forfeited During
Year for Second
PEO
($)
Value of
Dividends or
Other Earnings
Paid on Equity
Awards
not Otherwise
Included for
Second PEO
($)
Total –
Inclusion of
Equity Values
for Second
PEO
2024
4,691,881
205,114
157,382
5,054,377
Fiscal Year
Average Year-
End Fair Value
of Equity
Awards
Granted During
Year that
Remained
Unvested as of
Last Day of
Year for non-
PEO NEOs
($)
Average Change
in Fair Value
from Last Day of
Prior Year to Last
Day of Year of
Unvested Equity
Awards for non-
PEO NEOs
($)
Average
Vesting Date
Fair Value of
Equity Awards
Granted
During Year
that Vested
During Year
for non-PEO
NEOs
($)
Average
Change in
Fair Value
from Last
Day of Prior
Year to
Vesting
Date of
Unvested
Equity
Awards that
Vested
During Year
for non-PEO
NEOs
($)
Average Fair
Value at Last Day
of Prior Year of
Equity Awards
Forfeited During
Year for non-PEO
NEOs
($)
Average Value of
Dividends or
Other Earnings
Paid on Equity Awards
not Otherwise
Included for non-PEO
NEOs
($)
Total – Average
Inclusion of Equity
Values for non-
PEO NEOs
2024
744,613
145,482
69,631
959,726
       
Measure:: 1              
Pay vs Performance Disclosure              
Name     Adjusted Operating Profit        
Non-GAAP Measure Description    
(6)
We determined Adjusted Operating Profit to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and non-PEO NEOs in 2024. This performance measure may not have been the most important financial performance measure for years 2023, 2022, 2021 and 2020. For purposes of this table, we consistently applied the same methodology for calculating Adjusted Operating Profit across all covered fiscal years as used in 2024. Adjusted Operating Profit is a non-GAAP metric. See the “Non-GAAP Information” section below for a detailed description of how Adjusted Operating Profit is calculated from our audited financial statements. For further information on how Adjusted Operating Profit was used in our 2024 Annual Incentive Compensation program, see page 29.
       
Measure:: 2              
Pay vs Performance Disclosure              
Name     Adjusted Free Cash Flow        
Measure:: 3              
Pay vs Performance Disclosure              
Name     Revenue        
Measure:: 4              
Pay vs Performance Disclosure              
Name     Relative Total Shareholder Return        
Mr. Mitchell [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount     $ 0 $ 7,172,988 $ 9,316,556 $ 9,484,490 $ 6,361,666
PEO Actually Paid Compensation Amount     0 15,203,422 10,823,056 13,917,645 2,420,223
Mr. Saak [Member]              
Pay vs Performance Disclosure              
PEO Total Compensation Amount     6,423,788 6,299,752 0 0 0
PEO Actually Paid Compensation Amount     6,703,814 $ 9,602,286 $ 0 $ 0 $ 0
PEO | Mr. Saak [Member] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (4,774,351)        
PEO | Mr. Saak [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     5,054,377        
PEO | Mr. Saak [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     4,691,881        
PEO | Mr. Saak [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     205,114        
PEO | Mr. Saak [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0        
PEO | Mr. Saak [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     157,382        
PEO | Mr. Saak [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0        
PEO | Mr. Saak [Member] | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     (757,700)        
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     959,726        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     744,613        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     145,482        
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     69,631        
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     0        
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year              
Pay vs Performance Disclosure              
Adjustment to Compensation, Amount     $ 0