Property, Plant and Equipment

3 Months Ended

Mar. 31, 2021

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, 2021 and December 31, 2020 are summarized as follows:

	March 31, 2021			December 31, 2020
Land	$	19.8		$	20.3
Building and improvements		199.2			203.7
Machinery, equipment and tooling		287.7			292.6
Furniture and fixtures		14.7			21.0
Computer hardware and software		125.2			119.3
Rental cranes		92.6			90.2
Construction in progress		8.5			9.0
Total cost		747.7			756.1
Less accumulated depreciation		(461.4	)		(461.8	)
Property, plant and equipment-net	$	286.3		$	294.3

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 December 31, 2020, the Company had $3.3 million classified as other current assets in the Condensed Consolidated Balance Sheets related to assets held for sale for a building and land in Fanzeres, Portugal.