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Revenue (Tables)
 6 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue from External Customers by Products and Services
The following table presents net sales disaggregated by product line for each segment:
Three Months EndedSix Months Ended
June 30,June 30,
(in millions)2021202020212020
Aerospace & Electronics
Commercial Original Equipment$53.7 $51.9 $108.3 $132.5 
Military and Other Original Equipment62.8 65.5 125.6 125.9 
Commercial Aftermarket Products25.3 20.3 44.8 54.2 
Military Aftermarket Products15.7 19.7 32.8 37.7 
Total Aerospace & Electronics$157.5 $157.4 $311.5 $350.3 
Process Flow Technologies
Process Valves and Related Products$184.3 $160.8 $358.6 $317.9 
Commercial Valves98.2 58.3 187.7 134.1 
Pumps and Systems28.2 20.2 52.5 43.9 
Total Process Flow Technologies$310.7 $239.3 $598.8 $495.9 
Payment & Merchandising Technologies
Payment Acceptance and Dispensing Products 1
$197.3 $140.9 $382.3 $344.1 
Banknotes and Security Products130.9 106.7 283.3 200.8 
Total Payment & Merchandising Technologies$328.2 $247.6 $665.6 $544.9 
Net sales$796.4 $644.3 $1,575.9 $1,391.1 
1 As a result of the third quarter 2020 internal merger of the Crane Merchandising Systems (“CMS”) business into the vending vertical of the CPI business, Payment Acceptance and Dispensing Products now includes Merchandising Equipment. The prior period has been reclassified to conform to the current period presentation.
Contract with Customer, Asset and Liability Net contract assets and contract liabilities consisted of the following:
(in millions)June 30, 2021December 31, 2020
Contract assets$81.6 $66.7 
Contract liabilities$90.3 $103.0