Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Components of property, plant and equipment

Depreciation is computed using the straight-line method over the following estimated useful lives:

Buildings and improvements:
Buildings and improvements	2 to 40 years
Leasehold improvements	1 to 39 years
Machinery and equipment:
Computer hardware	3 to 5 years
Computer software	3 to 10 years
Factory machinery and equipment	1 to 15 years
Research and development equipment	3 to 5 years
Vehicles	3 to 10 years

Components of Property, plant and equipment, net were as follows (in millions):

	As of December 31,
	2023		2022
Land	$	23.7	$	24.1
Buildings and improvements	371.9		321.6
Machinery and equipment	965.0		964.7
Finance leases	72.2		66.5
Construction in progress and equipment not yet in service	198.4		92.8
Total	1,631.2		1,469.7
Less accumulated depreciation	(910.8)		(920.8)
Property, plant and equipment, net	$	720.4	$	548.9