Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

16. Property, Plant and Equipment


At December 31, 2023	Cost		Accumulated depreciation		Net book value
Land	$	549.2	$	—	$	549.2
Buildings and improvements	491.1		(236.1)		255.0
Yard, automotive and office equipment	306.0		(117.5)		188.5
Computer software and equipment	108.2		(79.5)		28.7
Leasehold improvements	160.0		(37.3)		122.7
Assets under development	56.8		—		56.8
	$	1,671.3	$	(470.4)	$	1,200.9


At December 31, 2022	Cost		Accumulated depreciation		Net book value
Land	$	169.4	$	—	$	169.4
Buildings and improvements	444.4		(220.5)		223.9
Yard, automotive and office equipment	124.4		(83.1)		41.3
Computer software and equipment	83.0		(72.5)		10.5
Leasehold improvements	23.4		(16.7)		6.7
Assets under development	7.3		—		7.3
	$	851.9	$	(392.8)	$	459.1

During the year ended December 31, 2023, interest of $1.8 million (2022: $0.1 million; 2021: $0.1 million) was capitalized to the cost of assets under development.

Additions during the year include $12.6 million (2022: $13.2 million; 2021: $7.5 million) of property, plant and equipment under finance leases.

On March 17, 2022, the Company completed the sale and leaseback of a parcel of land including all buildings, in Bolton, Ontario, Canada for a total sale consideration of $208.2 million Canadian dollars (approximately $165 million) net of closing and transaction costs, and recognized a gain on disposition of property, plant and equipment of $169.1 million. The net book value of the Bolton property was $7.1 million.