Restructuring (Tables)

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Summary of Restructuring Charges

We recorded restructuring charges which are reflected in the Consolidated and Combined Statements of Operations, as follows:

(in millions) For the year ended December 31,	2024		2023		2022
Crane Payment Innovations	$	10.1	$	0.5	$	6.2
Total restructuring charges	$	10.1	$	0.5	$	6.2

The following table summarizes our restructuring charges by program, cost type and segment for the years ended December 31, 2024, 2023 and 2022:

For the years ended December 31,	2024						2023						2022
(in millions)	Severance		Other		Total		Severance		Other		Total		Severance		Other		Total
Crane Payment Innovations	$	10.1	$	—	$	10.1	$	—	$	—	$	—	$	—	$	—	$	—
2024 Restructuring	10.1		—		10.1		—		—		—		—		—		—
Crane Payment Innovations	$	—	$	—	$	—	$	0.1	$	0.4	$	0.5	$	5.7	$	0.5	$	6.2
2022 Restructuring	—		—		—		0.1		0.4		0.5		5.7		0.5		6.2
Total	$	10.1	$	—	$	10.1	$	0.1	$	0.4	$	0.5	$	5.7	$	0.5	$	6.2

The following table summarizes the cumulative restructuring charges incurred through December 31, 2024.

	Cumulative Restructuring Charges
(in millions)	Severance		Other		Total
Crane Payment Innovations	$	10.1	$	—	$	10.1
2024 Restructuring	$	10.1	$	—	$	10.1
Crane Payment Innovations	$	5.8	$	0.9	$	6.7
2022 Restructuring	$	5.8	$	0.9	$	6.7

Restructuring Liability

The following table summarizes the accrual balances related to these restructuring charges by program:

(in millions)	2024 Restructuring		2022 Restructuring		Total
Severance:
Balance as of December 31, 2022 (a)	$	—	$	6.0	$	6.0
Expense (b)	—		0.5		0.5
Utilization	—		(5.9)		(5.9)
Balance as of December 31, 2023 (a)	$	—	$	0.6	$	0.6
Expense (b)	10.1		—		10.1
Utilization	(2.9)		(0.4)		(3.3)
Balance as of December 31, 2024 (a)	$	7.2	$	0.2	$	7.4

(a)	Included within Accrued Liabilities in the Consolidated Balance Sheets.
(b)	Included within “Restructuring charges” in the Consolidated and Combined Statements of Operations.