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Property, Plant and Equipment, Net ("PP&E")
9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net ("PP&E")
4.
Property, Plant and Equipment, Net (“PP&E”)

PP&E consists of the following:

 

September 30,

 

 

December 31,

 

 

2024

 

 

2023

 

Land

$

28.3

 

 

$

28.3

 

Buildings and improvements

 

346.2

 

 

 

317.8

 

Machinery and equipment

 

987.8

 

 

 

895.1

 

Software

 

128.1

 

 

 

122.6

 

Office equipment and other assets

 

125.3

 

 

 

105.2

 

Construction in progress(1)

 

213.8

 

 

 

348.4

 

Gross PP&E

 

1,829.5

 

 

 

1,817.4

 

Less accumulated depreciation

 

914.2

 

 

 

889.7

 

Net PP&E

$

915.3

 

 

$

927.7

 

(1) In connection with the Vitamins, Minerals and Supplements ("VMS") impairment review completed in the third quarter of 2024, the Company recorded an impairment charge of $60.0 in SG&A of Construction in progress assets. The charge was recorded in the Consumer Domestic segment. Refer to Note 11 for additional details.

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Depreciation expense on PP&E

$

21.0

 

 

$

18.2

 

 

$

59.8

 

 

$

52.8