Crane NXT, Co.CXT
Crane NXT, Co. Segments Disclosure
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 additional sales offices across the world.
Security and Authentication Technologies
SAT provides advanced security solutions based on proprietary technology for securing physical products, including banknotes, consumer goods, and industrial products. SAT also provides brand protection, authentication solutions, and digital content protection across online marketplaces, social media platforms, and websites. These solutions serve various brands, as well as government agencies and financial institutions. Key research and development and manufacturing facilities are located in the United States, United Kingdom, Sweden and Malta.
The chief operating decision maker is our Chief Executive Officer (“CEO”). The CEO assesses the segments’ performance by using each segments’ net sales and operating profit. The CEO uses net sales and operating profit for each segment predominantly in the annual budget and forecasting process. The chief operating decision maker considers budget-to-actual variances on a monthly, quarterly and annual basis for net sales and operating profit when making decisions about the allocation of operating and capital resources to each segment. The CEO also uses segment net sales and operating profit for assessing the performance of each segment by comparing the results of each segment with one another and with prior year’s performance, and in determining the compensation of certain employees directly responsible for segment performance.
Financial information by reportable segment is set forth below:
(in millions) Year ended December 31, 2025 | Crane Payment Innovations | Security and Authentication Technologies | Total | |||||||||||||||||
| Net Sales | $ | 846.6 | $ | 810.1 | $ | 1,656.7 | ||||||||||||||
| Less: | ||||||||||||||||||||
| Cost of operations | 379.1 | 401.1 | ||||||||||||||||||
| Selling and administrative expense | 157.8 | 154.0 | ||||||||||||||||||
| Engineering expense | 34.9 | 38.1 | ||||||||||||||||||
Other segment items (a) | 53.2 | 119.5 | ||||||||||||||||||
| Segment operating profit | 221.6 | 97.4 | 319.0 | |||||||||||||||||
| Corporate costs | (72.3) | |||||||||||||||||||
| Operating profit | 246.7 | |||||||||||||||||||
| Interest income | 1.0 | |||||||||||||||||||
| Interest expense | (60.3) | |||||||||||||||||||
| Equity investment loss | (11.5) | |||||||||||||||||||
| Miscellaneous income, net | 5.1 | |||||||||||||||||||
| Income before income taxes | $ | 181.0 | ||||||||||||||||||
(in millions) Year ended December 31, 2024 | Crane Payment Innovations | Security and Authentication Technologies | Total | |||||||||||||||||
| Net Sales | $ | 873.2 | $ | 613.6 | $ | 1,486.8 | ||||||||||||||
| Less: | ||||||||||||||||||||
| Cost of operations | 394.2 | 323.6 | ||||||||||||||||||
| Selling and administrative expense | 160.6 | 94.2 | ||||||||||||||||||
| Engineering expense | 43.8 | 27.2 | ||||||||||||||||||
Other segment items (a) | 46.2 | 57.7 | ||||||||||||||||||
| Segment operating profit | 228.4 | 110.9 | 339.3 | |||||||||||||||||
| Corporate costs | (70.5) | |||||||||||||||||||
| Operating profit | 268.8 | |||||||||||||||||||
| Interest income | 1.6 | |||||||||||||||||||
| Interest expense | (47.8) | |||||||||||||||||||
| Equity investment gain | 0.8 | |||||||||||||||||||
| Miscellaneous income, net | 3.0 | |||||||||||||||||||
| Income before income taxes | $ | 226.4 | ||||||||||||||||||
(in millions) Year ended December 31, 2023 | Crane Payment Innovations | Security and Authentication Technologies | Total | |||||||||||||||||
| Net Sales | $ | 886.4 | $ | 504.9 | $ | 1,391.3 | ||||||||||||||
| Less: | ||||||||||||||||||||
| Cost of operations | 373.3 | 297.6 | ||||||||||||||||||
| Selling and administrative expense | 152.9 | 72.1 | ||||||||||||||||||
| Engineering expense | 51.5 | 18.7 | ||||||||||||||||||
Other segment items (a) | 65.9 | 0.2 | ||||||||||||||||||
| Segment operating profit | 242.8 | 116.3 | 359.1 | |||||||||||||||||
| Corporate costs | (72.3) | |||||||||||||||||||
| Operating profit | 286.8 | |||||||||||||||||||
| Interest income | 1.1 | |||||||||||||||||||
| Interest expense | (48.1) | |||||||||||||||||||
| Related party interest expense | (2.5) | |||||||||||||||||||
| Miscellaneous income, net | 2.5 | |||||||||||||||||||
| Income before income taxes | $ | 239.8 | ||||||||||||||||||
(a) | Includes other cost of operations such as manufacturing costs, amortization expenses, shipping and handling costs, and certain overhead expenses, as well as corporate allocations. | ||||
| (in millions) December 31, | 2025 | 2024 | 2023 | |||||||||||||||||
| Depreciation and amortization: | ||||||||||||||||||||
| Crane Payment Innovations | $ | 29.1 | $ | 29.3 | $ | 31.2 | ||||||||||||||
| Security and Authentication Technologies | 74.9 | 55.1 | 44.2 | |||||||||||||||||
| Corporate | 2.6 | 2.4 | 2.2 | |||||||||||||||||
| Total | $ | 106.6 | $ | 86.8 | $ | 77.6 | ||||||||||||||
| (in millions) December 31, | 2025 | 2024 | 2023 | |||||||||||||||||
| Capital expenditures | ||||||||||||||||||||
| Crane Payment Innovations | $ | 7.7 | $ | 7.9 | $ | 7.6 | ||||||||||||||
| Security and Authentication Technologies | 30.7 | 37.5 | 25.9 | |||||||||||||||||
| Corporate | 0.1 | 0.1 | 1.6 | |||||||||||||||||
| Total | $ | 38.5 | $ | 45.5 | $ | 35.1 | ||||||||||||||
Net sales by geographic region:
| (in millions) December 31, | 2025 | 2024 | 2023 | |||||||||||||||||
Net sales (a) | ||||||||||||||||||||
| North America | $ | 829.3 | $ | 804.8 | $ | 787.1 | ||||||||||||||
| Western Europe | 190.2 | 162.1 | 196.3 | |||||||||||||||||
| Rest of the World | 637.2 | 519.9 | 407.9 | |||||||||||||||||
| Total net sales | $ | 1,656.7 | $ | 1,486.8 | $ | 1,391.3 | ||||||||||||||
(a) | Net sales by geographic region are based on the destination of the sale. | ||||
Balance sheet items by reportable segment is set forth below:
| (in millions) December 31, | 2025 | 2024 | ||||||||||||
| Goodwill: | ||||||||||||||
| Crane Payment Innovations | $ | 624.2 | $ | 609.1 | ||||||||||
| Security and Authentication Technologies | 539.8 | 347.5 | ||||||||||||
| Total goodwill | $ | 1,164.0 | $ | 956.6 | ||||||||||
| Assets: | ||||||||||||||
| Crane Payment Innovations | $ | 1,183.0 | $ | 1,187.1 | ||||||||||
| Security and Authentication Technologies | 1,734.9 | 1,178.2 | ||||||||||||
| Corporate | 198.5 | 21.2 | ||||||||||||
| Total assets | $ | 3,116.4 | $ | 2,386.5 | ||||||||||
Long-lived assets by geographic region:
| (in millions) December 31, | 2025 | 2024 | ||||||||||||
Long-lived assets (a) | ||||||||||||||
| North America | $ | 186.8 | $ | 187.3 | ||||||||||
| Western Europe | 165.9 | 129.1 | ||||||||||||
| Rest of the World | 18.4 | 16.3 | ||||||||||||
| Total long-lived assets | $ | 371.1 | $ | 332.7 | ||||||||||
(a) | Long-lived assets, net by geographic region are based on the location of the business unit and consist of property, plant and equipment and operating lease assets. | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Feb 23, 2021 | |
| 2019 | Feb 25, 2020 | |
| 2018 | Feb 26, 2019 | |
| 2017 | Feb 27, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 23, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.