Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment

Property, Plant and Equipment

	As of
	December 31, 2024		December 31, 2023
	(In millions)
Land and improvements	$	362.9	$	365.1
Buildings and improvements	1,450.2		1,283.4
Production and office equipment	5,479.8		5,156.0
Software	537.9		543.8
Construction in progress	612.1		783.7
Other	409.5		414.1
Total property, plant and equipment cost	8,852.4		8,546.1
Less: accumulated depreciation	(4,392.0)		(4,101.6)
Property, plant and equipment, net	$	4,460.4	$	4,444.5

Depreciation expense was $553.0 million, $475.5 million and $476.7 million for the years ended December 31, 2024, December 31, 2023 and December 31, 2022, respectively. Depreciation expense for the year ended December 31, 2024, included $93.6 million of accelerated depreciation in excess of normal depreciation related to the wind down or sale of certain of our U.S. craft businesses and related facilities