Property, Plant and Equipment, net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

Property, plant and equipment, net consists of the following:

	December 31, 2024		December 31, 2023
Land	$	28.8	$	30.5
Buildings (including improvements)	1,315.7		1,307.6
Machinery and equipment	2,513.3		2,460.6
Tooling	1,033.3		1,064.8
Capitalized software	341.5		338.4
Construction-in-progress	154.5		119.0
Total	5,387.1		5,320.9
Less: accumulated depreciation	(3,439.2)		(3,236.7)
Property, plant and equipment, net	$	1,947.9	$	2,084.2

Capitalized interest was $7.0, $5.2, and $3.8 for the twelve months ended December 31, 2024, 2023 and 2022, respectively. Repair and maintenance costs are expensed as incurred. The Company recognized repair and maintenance costs of $208.0, $176.9, and $161.9 for the twelve months ended December 31, 2024, 2023, and 2022, respectively.

The Company capitalizes certain costs, such as software coding, installation and testing, that are incurred to purchase or to create and implement internal use computer software. Depreciation expense related to capitalized software was $15.6, $22.7, and $23.4 for the twelve months ended December 31, 2024, 2023, and 2022, respectively.

The Company reviews capital and amortizing intangible assets (long-lived assets) for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. There was $2.0 of asset impairment charges for the twelve months ended December 31, 2024. There was no impairment for the twelve months ended December 31, 2023.