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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 138.8            
Changes in pension and postretirement plan assets and benefit obligation, net of tax (1.5)            
Currency translation adjustment (19.3)            
Ending balance at Sep. 30, 2023 $ 872.6         (152.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Dividends per share (in dollars per share) $ 0.28            
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
Stock options exercised, net of shares reacquired (in shares) 64,105            
Ending balance at Jun. 30, 2023 $ 855.2 72.4 1,722.6 35.3 (130.7) (844.4) 0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Dividends per share (in dollars per share) $ 0.14            
Net income attributable to common shareholders $ 51.9     51.9     0.0
Common Stock, Dividends, Per Share, Cash Paid $ 0.14            
Cash dividends $ (7.9)     (7.9)      
Exercise of stock options 0.2         0.2  
Impact from settlement of share-based awards, net of shares acquired 0.0   (0.3)     0.3  
Stock-based compensation expense 2.3   2.3       0.0
Changes in pension and postretirement plan assets and benefit obligation, net of tax (0.5)       (0.5)    
Currency translation adjustment (21.1)       (21.1)    
Net transfers to Crane $ (7.5)           (7.5)
Stock options exercised, net of shares reacquired (in shares) 7,465            
Ending balance at Sep. 30, 2023 $ 872.6         $ (152.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Dividends per share (in dollars per share) $ 0.14            
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)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Dividends per share (in dollars per share) $ 0.16            
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 126.5            
Changes in pension and postretirement plan assets and benefit obligation, net of tax (3.9)            
Currency translation adjustment 6.9            
Ending balance at Sep. 30, 2024 $ 1,070.7 72.4 1,718.2 220.0 (115.6) (824.3)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Dividends per share (in dollars per share) $ 0.48            
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)    
Stock options exercised, net of shares reacquired (in shares) 8,933            
Ending balance at Jun. 30, 2024 $ 989.8 72.4 1,716.8 182.0 (154.8) (826.6)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Dividends per share (in dollars per share) $ 0.16            
Net income attributable to common shareholders $ 47.1     47.1      
Common Stock, Dividends, Per Share, Cash Paid $ 0.16            
Cash dividends $ (9.1)     (9.1)      
Exercise of stock options 1.1         1.1  
Impact from settlement of share-based awards, net of shares acquired 0.0   (1.2)     1.2  
Stock-based compensation expense 2.6   2.6        
Changes in pension and postretirement plan assets and benefit obligation, net of tax (3.0)       (3.0)    
Currency translation adjustment $ 42.2       42.2    
Stock options exercised, net of shares reacquired (in shares) 57,564            
Ending balance at Sep. 30, 2024 $ 1,070.7 $ 72.4 $ 1,718.2 $ 220.0 $ (115.6) $ (824.3)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Dividends per share (in dollars per share) $ 0.16            
[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.
2 Additional liabilities attributable to the Business identified as a result of the Separation during the three months ended September 30, 2023.