Property, Plant and Equipment

6 Months Ended

Jun. 30, 2023

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, 2023 and December 31, 2022 are summarized as follows:

	June 30, 2023			December 31, 2022
Land	$	14.8		$	17.9
Building and improvements		197.7			194.7
Machinery, equipment, and tooling		308.1			300.6
Furniture and fixtures		13.9			13.8
Computer hardware and software		133.2			129.4
Rental cranes		176.2			157.8
Construction in progress		8.3			8.4
Total cost		852.2			822.6
Less accumulated depreciation		(510.3	)		(487.3	)
Property, plant, and equipment — net	$	341.9		$	335.3

Property, plant, and equipment is depreciated over the 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, 2023, the Company had $2.9 million of property, plant, and equipment classified as assets held for sale in other current assets in the Condensed Consolidated Balance Sheets. This amount relates to a manufacturing building and land in Fanzeres, Portugal.