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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, 2022 $ 783.8 $ 0.0 $ 0.0 $ 0.0 $ (131.5) $ 0.0 $ 915.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income attributable to common shareholders 43.7           43.7
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    
Net transfers to Crane (393.1)           (393.1)
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 attributable to common shareholders 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 attributable to common shareholders 43.2     43.2      
Cash dividends (7.9)     (7.9)      
Exercise of stock options 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)    
Dividend from Crane 275.0           275.0
Reclassification of Crane Net Investment to Common Stock, Treasury Stock and Capital Surplus 0.0 72.4 1,722.8     (848.1) (947.1)
Net transfers to Crane 103.9           103.9
Ending balance at Jun. 30, 2023 855.2 72.4 1,722.6 35.3 (130.7) (844.4) $ 0.0
Beginning balance at Dec. 31, 2023 964.0 72.4 1,728.1 120.9 (118.6) (838.8)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income attributable to common shareholders 37.8     37.8      
Cash dividends (9.1)     (9.1)      
Exercise of stock options 1.6         1.6  
Impact from settlement of share-based awards, net of shares acquired (5.2)   (14.7)     9.5  
Stock-based compensation expense 2.1   2.1        
Changes in pension and postretirement plan assets and benefit obligation, net of tax (0.4)       (0.4)    
Currency translation adjustment (26.7)       (26.7)    
Ending balance at Mar. 31, 2024 964.1 72.4 1,715.5 149.6 (145.7) (827.7)  
Beginning balance at Dec. 31, 2023 964.0 72.4 1,728.1 120.9 (118.6) (838.8)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income attributable to common shareholders 79.4            
Changes in pension and postretirement plan assets and benefit obligation, net of tax (0.9)            
Currency translation adjustment (35.3)            
Ending balance at Jun. 30, 2024 989.8 72.4 1,716.8 182.0 (154.8) (826.6)  
Beginning balance at Mar. 31, 2024 964.1 72.4 1,715.5 149.6 (145.7) (827.7)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income attributable to common shareholders 41.6     41.6      
Cash dividends (9.2)     (9.2)      
Exercise of stock options 0.3         0.3  
Impact from settlement of share-based awards, net of shares acquired (0.3)   (1.1)     0.8  
Stock-based compensation expense 2.4   2.4        
Changes in pension and postretirement plan assets and benefit obligation, net of tax (0.5)       (0.5)    
Currency translation adjustment (8.6)       (8.6)    
Ending balance at Jun. 30, 2024 $ 989.8 $ 72.4 $ 1,716.8 $ 182.0 $ (154.8) $ (826.6)  
[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.