Property, Plant and Equipment

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

8. Property, Plant and Equipment

The components of property, plant and equipment as of June 30, 2022 and December 31, 2021 are summarized as follows:

	June 30, 2022			December 31, 2021
Land	$	18.3		$	19.4
Building and improvements		195.5			203.4
Machinery, equipment and tooling		291.3			298.9
Furniture and fixtures		13.9			14.5
Computer hardware and software		128.1			125.6
Rental cranes		137.2			144.2
Construction in progress		10.2			15.1
Total cost		794.5			821.1
Less accumulated depreciation		(472.3	)		(462.3	)
Property, plant and equipment — net	$	322.2		$	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 June 30, 2022 and December 31, 2021, the Company had $2.8 million and $3.1 million, respectively, classified as other current assets in the Condensed Consolidated Balance Sheets. As of June 30, 2022 and December 31, 2021, assets held for sale primarily related to a manufacturing building and land in Fanzeres, Portugal.