Property and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

“Property and equipment, net” consisted of the following:

	As of December 31,
	2022		2021
	(in millions)
Buildings and improvements	$	903.1	$	892.5
Laboratory equipment, other equipment and furniture	476.5		407.3
Leasehold improvements	410.9		363.5
Computers and software	312.1		293.7
Land	33.1		33.1
Total property and equipment, gross	2,135.7		1,990.1
Less: accumulated depreciation	(1,027.3)		(896.0)
Total property and equipment, net	$	1,108.4	$	1,094.1

We recorded depreciation expense of $148.3 million, $125.6 million and $109.5 million in 2022, 2021 and 2020, respectively, which includes our finance lease amortization.