Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

7. Property, Plant and Equipment, Net

Property, plant and equipment, net, ("PP&E") consisted of the following (in millions):

	December 31,
	2024		2023
Equipment, furniture and fixtures, and software	$	211.0	$	210.7
Building and leasehold improvements	36.8		42.9
Land	18.6		25.8
Construction in progress	8.0		4.8
Plant and transportation equipment	7.4		8.1
	$	281.8	$	292.3
Less: Accumulated depreciation	148.2		137.7
Total	$	133.6	$	154.6

Depreciation expense was $25.0 million and $24.9 million for the years ended December 31, 2024 and 2023, respectively. These amounts included $15.3 million and $15.8 million of depreciation expense recognized within cost of revenue for the years ended December 31, 2024 and 2023, respectively.

As of December 31, 2024, and December 31, 2023, the net book value of equipment held under finance leases included in PP&E was $0.5 million and $2.3 million, respectively. As of December 31, 2024, and December 31, 2023, the gross value of capitalized internal-use software included in PP&E was $20.7 million and $15.0 million, respectively, and the net book value was $9.8 million and $5.9 million, respectively.

Assets held-for-sale are included within Other current assets in the Consolidated Balance Sheets. As of December 31, 2024, there were $7.0 million in assets held-for-sale, which primarily consisted of one building, equipment and land and the associated improvements at the Company's Infrastructure segment. As of December 31, 2023, there were $3.1 million in assets held-for-sale, which primarily consisted of two buildings and the associated building improvements at the Company's Infrastructure segment, which were subsequently sold.