PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following: 

	December 31,
(In millions)	2022		2021
Land and land improvements	$	68.2	$	79.4
Buildings	441.6		471.6
Vessels	1,854.7		1,979.0
Machinery and equipment	1,810.0		1,849.0
Office fixtures and furniture	119.2		121.9
Construction in process	116.7		110.5
Other	200.0		189.8
	4,610.4		4,801.2
Accumulated depreciation	(2,255.5)		(2,204.0)
Property, plant and equipment, net	$	2,354.9	$	2,597.2

Depreciation expense was $285.2 million, $291.3 million and $308.7 million in 2022, 2021 and 2020, respectively. The amount of interest cost capitalized was not material for the years presented.

During 2022 and 2021, we determined the carrying amount of certain of our long-lived assets exceeded their fair value and recorded impairments. See Note 19 for further details.