Financial Analysis

Acquisitions Antares Vision Acquisition On December 16, 2025, Crane NXT, through a newly formed Italian joint stock company (ITT), initiated a multi-phase acquisition of Antares Vision S.p.A. (Antares Vision). In the first phase, Crane NXT acquired a 32.3% equity interest in Antares Vision for 117.3 million (approximately $137.8 million), at a purchase price of 5.00 per share. Antares Vision is a global provider of inspection and detection systems that ensure product safety and quality control. Antares Vision also provides track and trace software solutions that help prevent counterfeiting and provides visibility of products throughout the supply chain. The transaction advances Crane NXTs strategy to provide trusted technology solutions that secure, detect and authenticate its customers most valuable assets, and expands the Companys portfolio in growing end markets, including Life Sciences and Food and Beverage. The Company accounts for its investment in Antares Vision in the first phase under equity method accounting since it exercises significant influence over Antares Vision, but does not have a controlling financial interest. The Company recorded its investment at cost of $137.8 million in the Consolidated Balance Sheet at December 31, 2025. Following the initial investment, Crane NXT will launch a mandatory tender offer under applicable Italian law to acquire the remaining publicly traded shares at the same per-share price. Upon completion of the mandatory tender offer, …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

Commitments and Contingencies We regularly review the status of lawsuits, claims and proceedings that have been or may be asserted against us relating to the conduct of our business, including those pertaining to product liability, patent infringement, commercial, employment, employee benefits, environmental and stockholder matters. We record a provision for a liability for such matters when it is considered probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions, if any, are reviewed quarterly and adjusted as additional information becomes available. If either or both criteria are not met, we assess whether there is at least a reasonable possibility that a loss, or additional losses, may have been incurred. If there is a reasonable possibility that a loss or additional loss may have been incurred for such matters, we disclose the estimate of the amount of loss or range of loss, disclose that the amount is immaterial, or disclose that an estimate of loss cannot be made, as applicable. We believe that as of December 31, 2025, there was no reasonable possibility that a material loss, or any additional material losses, may have been incurred for such matters, and that adequate provision has been made in our Consolidated and Combined Financial Statements for the potential impact of all such matters.

CommitmentsAndContingenciesDisclosureTextBlock

"Financing Our debt as of December 31, 2025, and 2024 consisted of the following: (in millions) December 31, 2025 2024 Term Loan A $ 9.1 $ Revolving Facility 126.0 210.0 Total short-term borrowings (a) $ 135.1 $ 210.0 Term Loan A $ 351.4 $ Term Loan B 120.7 6.55% notes due November 2036 198.8 198.7 4.20% notes due March 2048 346.9 346.8 Other deferred financing costs associated with credit facilities (13.4) (4.9) Total long-term debt (a) $ 1,004.4 $ 540.6 (a ) Debt discounts and debt issuance costs totaled $30.7 million and $9.4 million as of December 31, 2025, and 2024, respectively, and have been netted against the aggregate principal amounts of the related debt in the components of the debt table above, where applicable. Credit Faciliti es - On March 17, 2023, we became party to a senior secured credit agreement (the Credit Agreement) which originally provided for a $500 million, five-year revolving credit facility (the Revolving Facility) and we entered into a $350 million, three -year term loan facility (the Term Facility). Funding for both facilities became available in connection with the Separation. On December 9, 2024, we entered into an amendment to the Credit Agreement which increased the Revolving Facility by $200 million to an aggregate $700 million and provided a delayed draw term loan (the Term Loan A) of 300 million. On the same day, proceeds from the Revolving Facility were used to repay the outstanding Term Facility. On December 15, 2025, in connection with …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"Stock-Based Compensation Plans As a result of the Separation, all outstanding stock-based compensation awards of Holdings were exchanged for similarly valued stock-based compensation awards of either SpinCo, Crane NXT or both. The exchanged awards are subject to the same service vesting requirements as the original awards. Upon the exchange, there were 0.5 million options outstanding related to Crane NXT associates and 0.6 million options outstanding related to SpinCo associates. The modification of the performance-based restricted share units resulted in a liability recorded upon Separation. The amount of the liability was $1.0 million and $1.6 million as of December 31, 2025, and 2024, respectively. At December 31, 2025, we had stock-based compensation awards outstanding under the following shareholder-approved plans: the 2013 Stock Incentive Plan (the ""2013 Plan""), 2018 Stock Incentive Plan (the ""2018 Plan"") and 2018 Amended and Restated Stock Incentive Plan (the 2018 Amended & Restated Plan), applicable to employees and non-employee directors. The 2013 Plan was approved by the Board of Directors and stockholders at the annual meeting in 2013. The 2013 Plan originally authorized the issuance of up to 9,500,000 shares of stock pursuant to awards under the plan. In 2018, in view of the limited number of shares remaining available under the 2013 Plan, the Board of Directors and stockholders approved the adoption of the 2018 Plan which authorized the issuance of up to …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Income Taxes Provision for Income Taxes Our income before taxes is as follows: (in millions) December 31, 2025 2024 2023 U.S. operations $ 91.5 $ 78.2 $ 97.4 Non-U.S. operations 89.5 148.2 142.4 Total income before tax $ 181.0 $ 226.4 $ 239.8 Our provision (benefit) for income taxes consists of: (in millions) December 31, 2025 2024 2023 Current Tax: U.S. federal $ 27.8 $ 29.2 $ 31.3 U.S. state and local 3.7 (0.1) 1.7 Non-U.S. 18.9 28.1 20.6 Total current tax 50.4 57.2 53.6 Deferred Tax: U.S. federal (9.2) (13.4) (2.8) U.S. state and local (0.9) 1.3 (0.4) Non-U.S. (4.4) (2.8) 1.1 Total deferred tax (14.5) (14.9) (2.1) Total provision for income taxes (a) $ 35.9 $ 42.3 $ 51.5 (a) Included in the above amounts are excess tax benefits from share-based compensation of $0.7 million, $1.2 million and $0.9 million in 2025, 2024 and 2023, respectively, which were reflected as reductions in our provision for income taxes in 2025, 2024 and 2023. A reconciliation of the statutory U.S. federal tax rate to our effective tax rate is as follows: (in millions, except %) December 31, 2025 In USD Percent of Pre-tax Income U.S. Federal Statutory Tax Rate $ 38.0 21.0 % State and Local Income Taxes, Net of Federal Income Tax Effect (a) 3.3 1.8 % Foreign Tax Effects Italy Change in Valuation Allowances 3.1 1.7 % Other (0.4) (0.2) % Malta Statutory tax rate difference between Malta and United States (2.8) (1.5) % Notional Interest Deduction (4.5) (2.5) % Other 0.6 0.3 % United Kingdom (2.3) (1.2) % …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases Arrangements that explicitly or implicitly relate to property, plant and equipment are assessed at inception to determine if the arrangement is or contains a lease. Generally, we enter operating leases as the lessee and recognize right-of-use assets and lease liabilities based on the present value of future lease payments over the lease term. We lease certain vehicles, equipment, manufacturing and non-manufacturing facilities. We have leases with both lease components and non-lease components, such as common area maintenance, utilities, or other repairs and maintenance. For all asset classes, we applied the practical expedient to account for each separate lease component and its associated non-lease component(s) as a single lease component. We identify variable lease payments, such as maintenance payments based on actual activities performed or costs incurred, at lease commencement by assessing the nature of the payment provisions, including whether the payments are subject to a minimum. Certain leases include options to renew for an additional term or company-controlled options to terminate. We generally determine it is not reasonably certain to assume the exercise of renewal options because there is no economic incentive to renew. As termination options often include penalties, we generally determine it is reasonably certain that termination options will not be exercised because there is an economic incentive not to terminate. Therefore, these options generally do no …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements Recently Adopted Accounting Standards In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures which intends to improve the transparency of income tax disclosures. The new standard requires public entities to provide greater disaggregation in their rate reconciliation, including new requirements to present reconciling items on a gross basis within specified categories, to disclose both percentages and dollar amounts, and to disaggregate individual reconciling items by jurisdiction and nature when the effect of the items meets a quantitative threshold. The guidance also includes new requirements to provide users of the financial statements with better information on future cash flow prospects. The standard is effective for all public entities for annual periods beginning after December 15, 2024, on a prospective basis, with a retrospective option, and early adoption permitted for annual financial statements that have not yet been issued. The Company adopted the standard on a prospective basis for the year ended December 31, 2025. See Note 10, Income Taxes reflecting the Companys adoption of this standard. Recently Issued Accounting Standards In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses which intends to improve the disclosures about a public …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"Pension and Postretirement Benefits Pension Plan A number of our non-U.S. subsidiaries sponsor defined benefit pension plans that provide ongoing benefits for approximately 5% of all non-U.S. employees as of December 31, 2025. The benefits are typically based upon years of service and compensation. Most of these plans are funded by company contributions to pension funds, which are held for the sole benefit of plan participants and beneficiaries. Additionally, in the United States, we sponsor a defined benefit pension plan that covers less than 1% of U.S. employees as of December 31, 2025. The benefits are based on years of service and compensation. Charges to expense are based upon costs computed by an independent actuary. The plan is funded on a pay-as-you-go basis. Postretirement Plans Postretirement health care benefits are provided for certain employees hired before July 1, 2013, who meet minimum age and service requirements. A summary of the projected benefit obligations, fair value of plan assets and funded status for the plans is as follows: Pension Benefits Postretirement Benefits (in millions) December 31, 2025 2024 2025 2024 Change in benefit obligation: Benefit obligation at beginning of year $ 69.1 $ 77.6 $ 11.5 $ 12.7 Service cost 2.2 2.0 0.1 0.1 Interest cost 1.7 1.9 0.6 0.6 Plan participants contributions 0.3 0.4 Actuarial (gain) loss (1.6) (1.0) 0.3 (0.4) Settlements (10.6) (2.3) Curtailments (2.3) Benefits paid (2.5) (5.5) (1.4) (1.5) Foreign currency exchan …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Related Parties Prior to the Separation, the Business was managed and operated in the normal course of business with other affiliates of Holdings. Accordingly, certain shared costs were allocated to the Business and are reflected as expenses in the Consolidated and Combined Financial Statements. Allocated Centralized Costs The Consolidated and Combined Financial Statements were prepared on a stand-alone basis and were derived from the consolidated financial statements and accounting records of Holdings for the periods prior to the Separation. Prior to the Separation, Holdings incurred corporate costs for services provided to the Business as well as other Holdings businesses. These services included treasury, tax, accounting, human resources, audit, legal, purchasing, information technology and other such services. The costs associated with these services generally included all payroll and benefit costs, as well as overhead costs related to the support functions. Holdings also allocated costs associated with corporate insurance coverage and medical, pension, post-retirement and other health plan costs for employees participating in Holdings sponsored plans. Allocations were based on several utilization measures including headcount, proportionate usage and relative net sales. All such amounts were deemed incurred and settled by the Business in the period in which the costs were recorded. The allocated centralized costs for the Business were $13.5 million for the year ended Dece …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

Restructuring Overview 2025 Restructuring - In 2025, we initiated restructuring actions as follows: We recorded $12.1 million of restructuring expense in the SAT segment, predominantly related to severance charges, associated with the integration of the DLR and OpSec businesses. Certain remaining actions, including completion of facility-related exit activities are expected to continue into 2026. Total program costs are expected to be in the range of $15 million to $17 million. We recorded $4.7 million of restructuring expense in the CPI segment, predominantly related to severance charges. We continue to evaluate and align CPIs cost structure with existing economic conditions which could result in additional actions in 2026. 2024 Restructuring - In the first and fourth quarters of 2024, in response to challenging industry conditions, we initiated workforce reductions in CPI, incurring $10.1 million of cumulative severance charges, net through December 31, 2025. We do not expect to incur significant additional costs to complete these actions. We have substantially completed the restructuring program in 2025. 2022 Restructuring - In the fourth quarter of 2022, in response to economic uncertainty, we initiated workforce reductions in CPI, incurring $0.5 million of severance charges and other costs for the year ended December 31, 2023. The program was completed in 2025. Restructuring Charges We recorded restructuring charges which are reflected in the Consolidated and Combined St …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Disaggregation of Revenues The following table presents net sales disaggregated by product line for each segment: (in millions) December 31, 2025 2024 2023 Crane Payment Innovations Products $ 709.4 $ 739.9 $ 758.7 Services 137.2 133.3 127.7 Total Crane Payment Innovations $ 846.6 $ 873.2 $ 886.4 Security and Authentication Technologies Banknotes and Security Products $ 592.4 $ 521.9 $ 500.4 Authentication Products and Solutions 217.7 91.7 4.5 Total Security and Authentication Technologies $ 810.1 $ 613.6 $ 504.9 Total Net Sales $ 1,656.7 $ 1,486.8 $ 1,391.3 Remaining Performance Obligations The transaction price allocated to remaining performance obligations represents the transaction price of firm orders which have not yet been fulfilled, which we also refer to as total backlog. As of December 31, 2025, backlog was $492.8 million. We expect to recognize approximately 98% of our remaining performance obligations as revenue in 2026 and 2% in 2027. Contract Assets and Contract Liabilities Contract assets represent unbilled amounts that typically arise from contracts for customized products or contracts for products sold directly to the U.S. government or indirectly to the U.S. government through subcontracts, and certain international government contracts, where revenue recognized using the cost-to-cost method exceeds the amount billed to the customer. Contract assets are assessed for impairment and recorded at their net realizable value. Contract liabilities represent …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Segment Information In accordance with ASC Topic 280, Segment Reporting, for purposes of segment performance measurement, we do not allocate to the business segments items that are of a non-operating nature; or corporate organizational and functional expenses of a governance nature. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. We had two reportable segments: Crane Payment Innovations and Security and Authentication Technologies. Assets of the reportable segments exclude general corporate assets, which principally consist of cash, deferred tax assets, certain property, plant and equipment, and certain other assets. Corporate consists of corporate office expenses including compensation and benefits for corporate employees, occupancy, depreciation, and other administrative costs. A brief description of each of our segments is as follows: Crane Payment Innovations CPI provides electronic equipment and associated software leveraging extensive and proprietary core capabilities with various detection and sensing technologies for applications including verification and authentication of payment transactions. CPI also provides advanced automation solutions, and processing systems, field service solutions, and remote diagnostics and productivity software solutions. Key research and development and manufacturing facilities are located in the United States, the United Kingdom, Mexico, Japan, and Germany, with a …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Acquisitions Antares Vision Acquisition On September 12, 2025, Crane NXT entered into definitive agreements to acquire Antares Vision S.p.A. (Antares Vision), a publicly traded Italian joint stock company listed on the Italian stock exchange, through a phased transaction. In the initial phase, Crane NXT will acquire 32.5% of Antares Visions outstanding shares from Regolo S.p.A. and Sargas S.r.l. at a price of 5.00 per share, for total consideration of approximately 120 million pursuant to the terms of the executed Sale and Purchase Agreements. Following this initial investment, Crane NXT intends to initiate a mandatory tender offer under applicable Italian law to acquire the remaining publicly traded shares at the same per-share price. Upon completion of the mandatory tender offer Crane NXT will implement steps aimed at delisting Antares Vision and will acquire the remaining stake owned by Regolo S.p.A.. As a result of the transaction, Antares Vision will become a subsidiary of Crane NXT. Antares Vision is a global provider of inspection and detection systems that ensure product safety and quality control. Antares Vision also provides track and trace software solutions that help prevent counterfeiting and provides visibility of products throughout the supply chain. The transaction advances Crane NXTs strategy to provide trusted technology solutions that secure, detect and authenticate its customers most valuable assets, and expands the Companys portfolio in growing end market …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

Commitments and Contingencies We regularly review the status of lawsuits, claims and proceedings that have been or may be asserted against us relating to the conduct of our business, including those pertaining to product liability, patent infringement, commercial, employment, employee benefits, environmental and stockholder matters. We record a provision for a liability for such matters when it is considered probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions, if any, are reviewed quarterly and adjusted as additional information becomes available. If either or both criteria are not met, we assess whether there is at least a reasonable possibility that a loss, or additional losses, may have been incurred. If there is a reasonable possibility that a loss or additional loss may have been incurred for such matters, we disclose the estimate of the amount of loss or range of loss, disclose that the amount is immaterial, or disclose that an estimate of loss cannot be made, as applicable. We believe that as of September 30, 2025, there was no reasonable possibility that a material loss, or any additional material losses, may have been incurred for such matters.

CommitmentsAndContingenciesDisclosureTextBlock

Financing Our debt consisted of the following: (in millions) September 30, 2025 December 31, 2024 Term Loan $ 66.6 $ Revolving Facility 181.0 210.0 Total short-term borrowings (a) $ 247.6 $ 210.0 Term Loan $ 295.0 $ 6.55% notes due November 2036 198.8 198.7 4.20% notes due March 2048 346.9 346.8 Other deferred financing costs associated with credit facilities (6.4) (4.9) Total long-term debt (a) $ 834.3 $ 540.6 (a) Debt discounts and debt issuance costs totaled $11.8 million and $9.4 million as of September 30, 2025, and December 31, 2024, respectively, have been netted against the aggregate principal amounts of the related debt in the components of the debt table above, where applicable. Credit Faciliti es - On March 17, 2023, we became party to a senior secured credit agreement (the Credit Agreement) which provides for a $500 million, five-year revolving credit facility (the Revolving Facility) and we entered into a $350 million, 3-year term loan facility (the Term Facility). Funding for both facilities became available in connection with the Separation. On December 9, 2024, we entered into an amendment to the Credit Agreement which increased the Revolving Facility by $200 million to an aggregate $700 million and provided a delayed draw term loan (the Term Loan) of 300 million. On the same day, proceeds from the Revolving Facility were used to repay the outstanding Term Facility. Bridge Facility - In connection with the Antares Vision acquisition (see note 3 Acquisition), o …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Goodwill and Intangible Assets Changes to goodwill are as follows: (in millions) Crane Payment Innovations Security and Authentication Technologies Total Balance as of December 31, 2024 $ 609.1 $ 347.5 $ 956.6 Additions 182.4 182.4 Currency translation and other 18.7 3.7 22.4 Balance as of September 30, 2025 $ 627.8 $ 533.6 $ 1,161.4 Changes to intangible assets are as follows: (in millions) Nine Months Ended September 30, 2025 Year Ended December 31, 2024 Balance at beginning of period, net of accumulated amortization 1 $ 419.3 $ 308.9 Additions 189.5 161.8 Amortization expense (43.2) (47.0) Currency translation and other 7.3 (4.4) Balance at end of period, net of accumulated amortization 1 $ 572.9 $ 419.3 1 Includes $45.5 million intangibles with indefinite useful lives. A summary of intangible assets are as follows: Weighted Average Amortization Period of Finite Lived Assets (in years) September 30, 2025 December 31, 2024 (in millions) Gross Asset Accumulated Amortization Net Gross Asset Accumulated Amortization Net Intellectual property rights 11.3 $ 66.2 $ 17.9 $ 48.3 $ 65.5 $ 15.4 $ 50.1 Customer relationships and backlog 18.9 771.0 331.5 439.5 610.5 293.9 316.6 Developed Technology 6.0 112.0 37.6 74.4 66.4 26.8 39.6 Other 12.3 74.9 64.2 10.7 71.8 58.8 13.0 Total 18.1 $ 1,024.1 $ 451.2 $ 572.9 $ 814.2 $ 394.9 $ 419.3 Future amortization expense associated with intangible assets is expected to be: (in millions) Remainder of 2025 $ 17.1 2026 63.7 2027 60.8 2028 55.6 2029 …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income Taxes Effective Tax Rates Our quarterly provision for income taxes is measured using an annual effective tax rate, adjusted for discrete items within the periods presented. Our effective tax rates are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 Effective Tax Rate 23.6% 25.5% 23.4% 23.5% The difference of our effective tax rate to the prior year comparable period for the three and nine months ended September 30, 2025 and 2024 is primarily due to the mix of non-U.S. earnings. Our effective tax rate for the three-and-nine months ended September 30, 2025 is higher than the statutory U.S. federal tax rate of 21% primarily due to the mix of non-U.S. earnings. On July 4, 2025, the U.S. government enacted The One Big Beautiful Bill Act of 2025 which includes, among other provisions, changes to the U.S. corporate income tax system including but not limited to the allowance of immediate expensing of qualifying research and development expenses and permanent extensions of certain provisions within the Tax Cuts and Jobs Act. Based on the Companys initial evaluation of the provisions, the Company does not expect these tax law changes to have a material impact on the Companys financial statements; however, the Company will continue to evaluate potential impacts in future periods based on its facts and circumstances and as further guidance becomes available. The Organization for Economic Co-operation and Development (OECD) has prop …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements Recently Issued Accounting Standards In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures which intends to improve the transparency of income tax disclosures. The new standard requires public entities to provide greater disaggregation in their rate reconciliation, including new requirements to present reconciling items on a gross basis within specified categories, to disclose both percentages and dollar amounts, and to disaggregate individual reconciling items by jurisdiction and nature when the effect of the items meets a quantitative threshold. The guidance also includes new requirements to provide users of the financial statements with better information on future cash flow prospects. The standard is effective for all public entities for annual periods beginning after December 15, 2024, on a prospective basis, with a retrospective option, and early adoption permitted for annual financial statements that have not yet been issued. We do not expect the new standard to have a material impact on our disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses which intends to improve the disclosures about a public business entitys expenses and address requests from investors for more detailed information about the types of expenses (includin …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Pension and Postretirement Benefits For all plans, the components of net periodic (benefit) expense for the three months ended September 30, 2025, and 2024 are as follows: Pension Postretirement (in millions) 2025 2024 2025 2024 Service cost $ 0.5 $ 0.5 $ $ Interest cost 0.5 0.5 0.1 0.2 Expected return on plan assets (0.7) (0.8) Amortization of prior service cost (0.2) (0.2) (0.3) Amortization of net loss (gain) 0.1 0.1 (0.3) (0.2) Other (1.4) Settlement gain Net periodic expense (benefit) $ 0.2 $ (1.3) $ (0.2) $ (0.3) For all plans, the components of net periodic (benefit) expense for the nine months ended September 30, 2025, and 2024 are as follows: Pension Postretirement (in millions) 2025 2024 2025 2024 Service cost $ 1.5 $ 1.6 $ $ Interest cost 1.3 1.5 0.4 0.5 Expected return on plan assets (2.0) (2.4) Amortization of prior service cost (0.6) (0.6) (0.7) Amortization of net loss (gain) 0.2 0.2 (0.6) (0.6) Other (1.4) Settlement gain (0.1) Net periodic expense (benefit) $ 0.3 $ (1.1) $ (0.2) $ (0.8) The components of net periodic benefit, other than the service cost component, are included in Miscellaneous income, net in our Unaudited Condensed Consolidated Statements of Operations. Service cost is recorded within Cost of sales and Selling, general and administrative in our Unaudited Condensed Consolidated Statements of Operations. We expect to contribute the following to our pension and postretirement plans: (in millions) Pension Postretirement Expected contributions in …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Related PartiesAfter the Separation, SpinCo and its subsidiaries became related parties. As of September30, 2025 and December 31, 2024, we had outstanding net receivables from SpinCo and its subsidiaries of $3.3million and $0.7million, respectively, related to indemnification under the Tax Matters Agreement. …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

Restructuring Overview 2025 Restructuring - In the second and third quarters of 2025 we initiated restructuring actions as follows: We recorded $8.5 million of restructuring expense in the SAT segment, predominantly related to severance charges, associated with the integration of the DLR and OpSec businesses. We expect to substantially complete the restructuring program in 2025, with total costs expected to be in the range of $10 million to $15 million. We recorded $2.3 million of restructuring expense in the CPI segment, predominantly related to severance charges. We will continue to evaluate and align CPIs cost structure with existing economic conditions which could result in additional actions. 2024 Restructuring - In the first and fourth quarters of 2024, in response to challenging industry conditions, we initiated workforce reductions in CPI, incurring $10.1 million of cumulative severance charges through September 30, 2025. We expect to substantially complete the restructuring program in 2025 and do not expect to incur significant additional costs. 2022 Restructuring - In the fourth quarter of 2022, in response to economic uncertainty, we initiated workforce reductions in CPI, incurring $6.7 million of cumulative restructuring charges through September 30, 2025, of which $5.8 million related to severance and $0.9 million related to other costs. This restructuring program has been completed. Restructuring charges We recorded restructuring charges which are reflected in t …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Disaggregation of Revenues The following table presents net sales disaggregated by product line for each segment: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2025 2024 2025 2024 Crane Payment Innovations Products $ 181.3 $ 190.9 $ 528.3 $ 557.9 Services 35.0 34.0 102.3 100.4 Total Crane Payment Innovations $ 216.3 $ 224.9 $ 630.6 $ 658.3 Security and Authentication Technologies Banknotes and Security Products $ 168.2 $ 145.4 $ 405.1 $ 372.9 Authentication Products and Solutions 60.6 33.2 144.1 56.5 Total Security and Authentication Technologies $ 228.8 $ 178.6 $ 549.2 $ 429.4 Net sales $ 445.1 $ 403.5 $ 1,179.8 $ 1,087.7 Remaining Performance Obligations The transaction price allocated to remaining performance obligations represents the transaction price of firm orders which have not yet been fulfilled. As of September 30, 2025, our performance obligations were $557.0 million. We expect to recognize approximately 57% of our remaining performance obligations as revenue in 2025, and 43% in 2026. Contract Assets and Contract Liabilities Contract assets represent unbilled amounts that typically arise from contracts for customized products or contracts for products sold directly to the U.S. government or indirectly to the U.S. government through subcontracts, and certain international government contracts, where revenue recognized using the cost-to-cost method exceeds the amount billed to the customer. Contract assets are assessed for imp …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Segment Results As of September 30, 2025, we had two reportable segments: Crane Payment Innovations and Security and Authentication Technologies. Assets of the reportable segments exclude general corporate assets which principally consist of cash and tax-related balances. Corporate consists of corporate office expenses including compensation and benefits for corporate employees, occupancy, professional services and other administrative costs. A brief description of each of our segments as of September 30, 2025 is as follows: Crane Payment Innovations (CPI) CPI provides electronic equipment and associated software leveraging extensive and proprietary core capabilities with various detection and sensing technologies for applications including verification and authentication of payment transactions. CPI also provides advanced automation solutions, and processing systems, field service solutions, and remote diagnostics and productivity software solutions. Key research and development and manufacturing facilities are located in the United States, the United Kingdom, Mexico, Japan, and Germany, with additional sales offices across the world. Security and Authentication Technologies (SAT) SAT provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, government tax stamps and industrial products. SAT also provides brand protection, authentication solutions, and digital content protection across online mar …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Changes in Accumulated Other Comprehensive Loss The table below provides the accumulated balances for each classification of accumulated other comprehensive income (loss), as reflected on our Unaudited Condensed Consolidated Balance Sheets. (in millions) Pension and Postretirement Benefits (a) Currency Translation Adjustment Total Balance as of December 31, 2024 $ 0.7 $ (173.3) $ (172.6) Other comprehensive gain before reclassifications 75.8 75.8 Amounts reclassified from accumulated other comprehensive loss (0.8) (0.8) Net period other comprehensive (loss) income (0.8) 75.8 75.0 Balance as of September 30, 2025 $ (0.1) $ (97.5) $ (97.6) (a) Net of tax detriment of $1.1 million and $1.3 million as of September 30, 2025 and December 31, 2024, respectively. The table below illustrates the amounts reclassified out of each component of accumulated other comprehensive loss for the three-and-nine month periods ended September 30, 2025, and 2024. Amortization of pension and postretirement components has been recorded within Miscellaneous income, net on our Unaudited Condensed Consolidated Statements of Operations. Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2025 2024 2025 2024 Amortization of pension components: Prior service costs $ (0.2) $ (0.2) $ (0.6) $ (0.6) Net loss 0.1 0.1 0.2 0.2 Amortization of postretirement components: Prior service costs (0.3) (0.7) Net gain (0.3) (0.2) (0.6) (0.6) Other (1.4) (1.4) Total before tax $ (0.4) $ (2.0) $ (1 …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing