PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENTThe major components of property, plant and equipment were as follows:

(dollars in millions)	September 30, 2023		December 31, 2022
Land and leasehold improvements	$	50.1	$	52.0
Buildings and improvements	165.9		163.9
Machinery, equipment, fixtures and software	315.7		299.8
Construction in process	55.0		50.3
Total property, plant and equipment	586.7		566.0
Accumulated depreciation	(307.5)		(288.8)
Property, plant and equipment, net	$	279.2	$	277.2

For the three months ended September 30, 2023 and 2022, the Company recorded depreciation expense of $11.8 million and $10.6 million, respectively. For the nine months ended September 30, 2023 and 2022, the Company recorded depreciation expense of $31.4 million and $31.5 million, respectively.