Property and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and Equipment, Net

The following table provides details of property and equipment, net, including property and equipment held under finance leases as of the dates indicated (in millions):

	December 31,
	2023		2022		Estimated Useful Lives (in years)
Land	$	68.5	$	73.5
Buildings and leasehold improvements	90.7		86.7		3	-	40
Machinery, equipment and vehicles	3,013.9		2,797.0		2	-	20
Office equipment, furniture and internal-use software	330.2		286.8		3	-	7
Construction in progress	56.0		67.4
Total property and equipment	$	3,559.3	$	3,311.4
Less accumulated depreciation and amortization	(1,907.8)		(1,557.3)
Property and equipment, net	$	1,651.5	$	1,754.1

As of December 31, 2023 and 2022, the gross amount of capitalized internal-use software totaled $212.7 million and $186.6 million, respectively, and, net of accumulated amortization, totaled $49.8 million and $39.9 million, respectively. During the second quarter of 2023, the depreciable lives of certain assets were updated on a prospective basis to better align the respective assets’ lives with their expected useful lives, based on management’s assessment of the physical and economic factors of the related assets. The effect of this update was a decrease in depreciation expense of approximately $6.2 million for the year ended December 31, 2023. Accrued capital expenditures, the effects of which are excluded from capital expenditures in the Company’s consolidated statements of cash flows given their non-cash nature, totaled $4.4 million and $14.2 million as of December 31, 2023 and 2022, respectively.