Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

A summary of gross property, plant and equipment at December 31 is presented in the following table:

($ in millions)	Expected useful lives (years)	2022		2021
Land		$	29.0	$	29.3
Buildings and improvements	15-35	663.6		644.8
Machinery and equipment	5-12	1,039.7		976.1
Molds and dies	4-7	154.5		139.5
Computer hardware and software	3-10	193.9		182.6
Construction in progress		305.9		242.7
		$	2,386.6	$	2,215.0

Depreciation expense for the years ended December 31, 2022, 2021 and 2020 was $116.9 million, $116.9 million and $104.7 million, respectively.

We capitalize interest on borrowings during the active construction period of major capital projects. Capitalized interest is added to the cost of the underlying assets and is amortized over the useful lives of the assets. Capitalized interest for the years ended December 31, 2022, 2021 and 2020 was $3.7 million, $2.0 million and $1.4 million, respectively.