PROPERTY, PLANT & EQUIPMENT

12 Months Ended

Dec. 31, 2022

PROPERTY, PLANT & EQUIPMENT [Abstract]

NOTE 4: PROPERTY, PLANT & EQUIPMENT

Balances of major classes of assets and allowances for depreciation, depletion and amortization at December 31 are as follows:



in millions	2022	2021
Property, Plant & Equipment
Land and land improvements ¹	$ 3,991.1	$ 3,631.7
Buildings	223.3	182.9
Machinery and equipment	6,454.2	6,109.2
Finance leases (see Note 7)	93.2	36.3
Deferred asset retirement costs	165.9	182.5
Construction in progress	378.7	301.8
Total, gross	$ 11,306.4	$ 10,444.4
Less allowances for depreciation, depletion
and amortization	5,255.1	4,897.6
Total, net	$ 6,051.3	$ 5,546.8


¹	Includes depletable land as follows: December 31, 2022 — $2,445.6 million and December 31, 2021 — $2,238.4 million.

Capitalized interest costs with respect to qualifying construction projects and total interest costs incurred before recognition of the capitalized amount for the years ended December 31 are as follows:



in millions	2022	2021	2020
Capitalized interest cost	$ 3.6	$ 4.2	$ 3.5
Total interest cost incurred before recognition
of the capitalized amount	172.8	153.5	139.5

Capitalized software costs of $10.1 million and $14.7 million (including $13.2 million of capitalized software obtained via the U.S. Concrete acquisition) are reflected in net property, plant & equipment as of December 31, 2022 and 2021, respectively. We capitalized software costs for the years ended December 31 as follows: 2022 — $2.7 million, 2021 — $2.7 million and 2020 — $1.1 million.