PROPERTY, PLANT AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

PROPERTY, PLANT AND EQUIPMENT, NET

The major components of property, plant and equipment, net were as follows:

(dollars in millions)	March 31, 2024		December 31, 2023
Land and leasehold improvements	$	50.5	$	51.7
Buildings and improvements	184.7		168.5
Machinery, equipment, fixtures and software	342.1		334.3
Construction in process	54.4		66.7
Total property, plant and equipment	631.7		621.2
Accumulated depreciation	(336.2)		(324.3)
Property, plant and equipment, net	$	295.5	$	296.9

For the three months ended March 31, 2024 and 2023, the Company recorded depreciation expense of $10.1 million and $9.5 million, respectively.