PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

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)	2023		2022
Land and land improvements	$	69.8	$	68.2
Buildings	449.7		441.6
Vessels	1,820.0		1,854.7
Machinery and equipment	1,922.7		1,810.0
Office fixtures and furniture	125.1		119.2
Construction in process	159.2		116.7
Other	220.9		200.0
	4,767.4		4,610.4
Accumulated depreciation	(2,496.5)		(2,255.5)
Property, plant and equipment, net	$	2,270.9	$	2,354.9

Depreciation expense was $288.1 million, $285.2 million and $291.3 million in 2023, 2022 and 2021, respectively. The amount of interest cost capitalized was not material for the years presented.

During 2023 and 2022, we determined the carrying amount of certain of our long-lived assets exceeded their fair value and immaterial impairments were recorded. See Note 19 for further details.