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Net Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Net Property, Plant and Equipment

Note 4 — Net Property, Plant and Equipment

 

 

 

December 31,

 

(In millions)

 

2024

 

 

2023

 

Land

 

$

119.2

 

 

$

120.6

 

Buildings

 

 

727.5

 

 

 

733.7

 

Equipment

 

 

2,028.1

 

 

 

2,072.7

 

Construction in progress

 

 

285.5

 

 

 

265.0

 

Finance lease

 

 

2.8

 

 

 

3.5

 

Property, plant and equipment

 

 

3,163.1

 

 

 

3,195.5

 

Less accumulated depreciation

 

 

(1,566.4

)

 

 

(1,516.8

)

Net property, plant and equipment

 

$

1,596.7

 

 

$

1,678.7

 

 

Depreciation expense related to property, plant and equipment for the years ended December 31, 2024, 2023 and 2022, was $117.5 million, $118.0 million and $119.4 million, respectively. Capitalized interest of $10.7 million, $6.7 million, and $12.3 million for 2024, 2023 and 2022, respectively, was included in construction in progress. Capitalized costs associated with software accessed through a hosting arrangement were $17.6 million for 2024, $7.4 million for 2023, and were not material for 2022.