Property, Plant and Equipment

3 Months Ended

Mar. 31, 2022

Property Plant And Equipment [Abstract]

. Property, Plant and Equipment

The components of property, plant and equipment as of March 31, 2022 and December 31, 2021 are summarized as follows:


	March 31, 2022			December 31, 2021
Land	$	19.1		$	19.4
Building and improvements		202.0			203.4
Machinery, equipment and tooling		299.0			298.9
Furniture and fixtures		14.3			14.5
Computer hardware and software		127.6			125.6
Rental cranes		140.5			144.2
Construction in progress		9.9			15.1
Total cost		812.4			821.1
Less: accumulated depreciation		(471.6	)		(462.3	)
Property, plant and equipment-net	$	340.8		$	358.8

Property, plant and equipment are depreciated over the asset’s estimated useful life using the straight-line depreciation method for financial reporting and accelerated methods for income tax purposes.

Assets Held for Sale

As of March 31, 2022 and December 31, 2021, the Company had $3.3 million and $3.1 million, respectively, classified as other current assets in the Condensed Consolidated Balance Sheets. As of March 31, 2022 and December 31, 2021, assets held for sale primarily relate to a manufacturing building and land in Fanzeres, Portugal.

Assets Impairment

During the year ended December 31, 2021, the Company recorded an asset impairment of $1.9 million to write-down the value of one of the Company's Brazil entities to its expected sale price. There were no asset impairments recorded during the three months ended March 31, 2022.