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Plant, Property and Equipment, Net (Notes)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Plant, Property and Equipment, Net
PLANT, PROPERTY AND EQUIPMENT, NET
The following table summarizes our property, plant, and equipment, net of accumulated depreciation.
As of December 31Useful life
(in years)		20252024
Machinery and equipment
  2 - 10
$1,433.9 $1,263.4 
Buildings and improvements
  5 - 40
343.8 293.4 
Furniture, fixtures and office equipment
3 - 7
86.2 73.6 
Construction in progress80.1 103.0 
Land and improvements26.7 25.1 
Other2.6 2.0 
Plant, property and equipment, gross1,973.3 1,760.5 
Less: accumulated depreciation(1,346.3)(1,183.3)
Plant, property and equipment, net$627.0 $577.2 
Depreciation expense of $92.2, $88.2, and $84.2 was recognized in 2025, 2024 and 2023, respectively.
Government Assistance - Capital Grant
In 2023, a subsidiary in our MT segment entered into an incentive grant agreement with the Italian government related to the expansion of a production facility in Termoli, Italy and an upgrade of research and development capabilities in Barge, Italy. The total grant of 18.3 euros is expected to be received over the next three years beginning in 2025 and is primarily related to capital expenditures and, to a lesser extent, certain research and development activities. During the year ended December 31, 2025, we received a capital-related grant of $7.9, which was recorded as a reduction of property, plant and equipment and will be recognized as a reduction to depreciation expense over the life of the related assets.