Property, Plant and Equipment

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

8. Property, Plant, and Equipment

The components of property, plant, and equipment as of March 31, 2025 and December 31, 2024 are summarized as follows:

	March 31, 2025			December 31, 2024
Land	$	14.7		$	14.3
Building and improvements		207.2			203.3
Machinery, equipment, and tooling		328.4			318.3
Furniture and fixtures		13.6			13.3
Computer hardware and software		130.8			129.6
Rental cranes		185.0			185.7
Construction in progress		7.6			6.9
Total cost		887.3			871.4
Less: accumulated depreciation		(542.9	)		(525.2	)
Property, plant, and equipment - net	$	344.4		$	346.2

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

Additions to property, plant, and equipment included in accounts payable and accrued expenses in the Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024 were $1.5 million and $5.3 million, respectively.