PROPERTY, PLANT AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

The property, plant and equipment at March 31, 2023 and December 31, 2022 were as follows:


(in millions)	March 31, 2023		December 31, 2022
Leasehold improvements	$	80.4	$	67.9
Equipment	128.1		124.7
Property, plant and equipment, gross	208.5		192.6
Less accumulated depreciation	(112.2)		(109.2)
Property, plant and equipment, net	$	96.3	$	83.4

During the three months ended March 31, 2023, the Company incurred $5.7 million of accelerated depreciation of leasehold improvements and equipment in connection with the Company's decision to cease the use of its corporate headquarters in Salt Lake City and transition corporate support operations to its new facility in west Salt Lake City. As the Company expects to recover the carrying value of the related right-of-use assets through the designation of a sub-lessee or new tenant for the facility, the Company has not recognized a loss on the lease as of March 31, 2023. See Note 15 for further discussion.

During the three months ended March 31, 2022, the Company ceased the use of certain leased Salt Lake City facilities. As a result, the Company recognized a $2.1 million impairment on the property, plant and equipment associated with the leases, which consisted primarily of leasehold improvements. See Note 15 for further discussion.

The Company recorded depreciation during the respective periods as follows:


	Three months ended March 31,
(in millions)	2023		2022
Depreciation expense	$	8.7	$	2.8