Property and Equipment, net

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

The following table details our property and equipment, net.


(In millions)	September 30, 2023		December 31, 2022
Land and improvements	$	46.1	$	44.1
Buildings	809.3		783.1
Machinery and equipment	2,732.5		2,612.3
Other property and equipment	141.7		124.5
Construction-in-progress	230.7		222.4
Property and equipment, gross	3,960.3		3,786.4
Accumulated depreciation and amortization	(2,574.1)		(2,510.5)
Property and equipment, net	$	1,386.2	$	1,275.9

In the three and nine months ended September 30, 2023, we recorded approximately $25.8 million of property and equipment impairment within (Loss) Gain on disposal of businesses and property and equipment, net on the Condensed Consolidated Statements of Operations, related to closure activity of the Kevothermal and plant-based rollstock businesses. See Note 12, "Restructuring Activities," for further details related to the business closure activity.

The following table details our interest cost capitalized and depreciation and amortization expense for property and equipment and finance lease ROU assets.


	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2023		2022		2023		2022
Interest cost capitalized	$	3.5	$	2.4	$	9.3	$	6.1
Depreciation and amortization expense(1)	$	44.5	$	38.0	$	128.7	$	110.7

(1)Includes amortization expense of finance lease ROU assets of $2.3 million and $7.1 million for the three and nine months ended September 30, 2023, respectively, and $2.6 million and $7.9 million for the three and nine months ended September 30, 2022, respectively.