Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant, and Equipment

Property, plant, and equipment, carried at cost, is summarized as follows at December 31, (in millions): 

	2023		2022
Land	$	34.9	$	29.8
Buildings and improvements	249.8		212.1
Machinery, tools, and equipment	992.4		905.7
Construction-in-progress	131.6		99.0
Gross property, plant, and equipment	1,408.7		1,246.6
Less accumulated depreciation	(756.1)		(718.6)
PROPERTY, PLANT, AND EQUIPMENT, NET	$	652.6	$	528.0

Depreciable lives on buildings range between 20-45 years. Depreciable lives on machinery, tools, and equipment range between 3-15 years. The Company recorded depreciation expense of $71.9 million, $63.4 million and $61.7 million for 2023, 2022 and 2021, respectively.