Property, Plant and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

6.Property, Plant and Equipment

Property, plant and equipment is comprised of the following:

	December 31,						Depreciable
(dollars in millions)	2024			2023			Lives (Years)
Land and rights-of-way	$	136.3		$	133.5		20 – Indefinite
Buildings and leasehold improvements		240.2			218.3		5 – 40
Network equipment		2,821.1			2,412.5		3 – 50
Office software, furniture, fixtures and vehicles		207.2			130.6		3 – 17
Construction in process		149.4			139.4		n/a
Gross value		3,554.2			3,034.3
Accumulated depreciation		(928.9	)		(648.6	)
Property, plant and equipment, net	$	2,625.3		$	2,385.7

Depreciation expense on Property, plant, and equipment, including assets accounted for as finance leases, totaled $276.3 in 2024, $300.3 million in 2023, and $335.9 million in 2022. The portion of depreciation expense associated with cost of providing services was 86%, 90% and 94% in 2024, 2023 and 2022, respectively. There are numerous assets included within network equipment resulting in a range of depreciable lives between 3 and 50 years, the majority of which fall within the range of 7 to 22 years.

The Company recorded a loss on impairment of long-lived assets of $2.9 million in 2024 related to a write-off of certain fixed assets that will no longer be utilized as a result of the Company's decision to no longer pursue an ancillary product offering. No asset impairment losses were recognized on Property, plant, and equipment in the year ended December 31, 2023. The Company recorded a loss on impairment of long-lived assets of $2.7 million in the third quarter of 2022 related to the impairment of leasehold improvements at the Company’s headquarters.