Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Changes to Goodwill

Changes to goodwill are as follows:

(in millions)	Crane Payment Innovations		Security and Authentication Technologies		Total
Balance as of December 31, 2023	$	626.7	$	214.5	$	841.2
Additions	—		123.2		123.2
Currency translation	1.1		(0.1)		1.0
Balance as of September 30, 2024	$	627.8	$	337.6	$	965.4

Summary of Intangible Assets

Changes to intangible assets are as follows:

(in millions)	Nine Months Ended September 30, 2024		Year Ended December 31, 2023
Balance at beginning of period, net of accumulated amortization	$	308.9	$	344.9
Additions	163.2		—
Amortization expense	(33.7)		(35.9)
Currency translation and other	1.8		(0.1)
Balance at end of period, net of accumulated amortization	$	440.2	$	308.9

A summary of intangible assets are as follows:

		September 30, 2024						December 31, 2023
(in millions)	Weighted  Average Amortization Period of Finite Lived Assets (in years)	Gross Asset		Accumulated Amortization		Net		Gross Asset		Accumulated Amortization		Net
Intellectual property rights	10.8	$	68.9	$	15.8	$	53.1	$	62.2	$	15.0	$	47.2
Customer relationships and backlog	18.9	624.2		293.5		330.7		504.4		269.5		234.9
Developed Technology	6.9	66.3		25.3		41.0		26.3		21.2		5.1
Other	10.0	73.5		58.1		15.4		73.5		51.8		21.7
Total	18.0	$	832.9	$	392.7	$	440.2	$	666.4	$	357.5	$	308.9

Intangible Assets Future Amortization Expense

Future amortization expense associated with intangible assets is expected to be:

(in millions)
Remainder of 2024	$	13.9
2025	45.8
2026	45.6
2027	43.0
2028	38.8
2029 and after	207.6