Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Components of property, plant and equipment, net

We generally depreciate or amortize the cost of our property, plant and equipment using the straight-line method over the estimated useful lives of the respective assets, which are summarized as follows:

Asset Category	Useful Lives
Land	Not depreciated
Buildings	15 to 40 years
Leasehold Improvements	Lesser of the useful life or the term of the respective lease
Furniture and Fixtures	5 to 7 years
Machinery and Equipment	5 to 20 years
Computer Software and Hardware	3 to 5 years

Components of property, plant and equipment, net are summarized as follows:

	As of December 31,
(In millions)	2025		2024
Land	$	216.7	$	202.4
Buildings	2,140.3		1,963.7
Leasehold improvements	143.5		137.8
Machinery and equipment	2,167.4		2,109.8
Computer software and hardware	1,093.5		1,070.5
Furniture and fixtures	62.1		59.5
Construction in progress	163.1		308.4
Total cost(1)	5,986.6		5,852.1
Less: accumulated depreciation	(2,931.2)		(2,670.8)
Total property, plant and equipment, net	$	3,055.4	$	3,181.3

(1) During the first quarter of 2024 the second manufacturing suite at our Solothurn, Switzerland facility become operational, resulting in approximately $717.3 million of fixed assets being placed into service.