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Net Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Net Property, Plant and Equipment

Note 4 — Net Property, Plant and Equipment

 

 

 

December 31,

 

(In millions)

 

2023

 

 

2022

 

Land

 

$

120.6

 

 

$

106.9

 

Buildings

 

 

733.7

 

 

 

656.2

 

Equipment

 

 

2,072.7

 

 

 

2,029.3

 

Construction in progress

 

 

265.0

 

 

 

290.0

 

Finance lease

 

 

3.5

 

 

 

5.5

 

Property, plant and equipment

 

 

3,195.5

 

 

 

3,087.9

 

Less accumulated depreciation

 

 

(1,516.8

)

 

 

(1,430.1

)

Net property, plant and equipment

 

$

1,678.7

 

 

$

1,657.8

 

 

Depreciation expense related to property, plant and equipment for the years ended December 31, 2023, 2022 and 2021, was $118.0 million, $119.4 million and $131.0 million, respectively. Capitalized interest of $6.7 million, $12.3 million, and $12.8 million

for 2023, 2022 and 2021, respectively, was included in construction in progress. Capitalized costs associated with software accessed through a hosting arrangement were $7.4 million for 2023, were not material for 2022 and were not applicable for 2021.