Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

Included in Property, plant and equipment, net were the following:

	2022		2021		2020
Land	$	263.0	$	257.7	$	283.5
Buildings	1,199.3		1,157.8		1,098.0
Machinery and equipment	3,230.2		3,043.6		3,026.8
Construction in progress	496.1		205.4		140.5
Property, plant and equipment, gross	5,188.6		4,664.5		4,548.8
Less allowances for depreciation	2,981.6		2,797.2		2,714.3
Property, plant and equipment, net	$	2,207.0	$	1,867.3	$	1,834.5

In accordance with the Property, Plant and Equipment Topic of the ASC, whenever events or changes in circumstances indicate that the carrying value of long-lived assets may not be recoverable or the useful life may have changed, impairment tests are to be performed. Undiscounted cash flows are used to calculate the recoverable value of long-lived assets to determine if such assets are not recoverable. If the carrying value of the assets is deemed to not be recoverable, the impairment to be recognized is the amount by which the carrying value of the assets exceeds the estimated fair value of the assets as determined in accordance with the Fair Value Topic of the ASC. No material impairments of long-lived assets were recorded in 2022, 2021 or 2020.