Property, plant and equipment is stated at cost. Costs associated with the repair and maintenance of the Company's property, plant and equipment are expensed as incurred. Costs associated with improvements which extend the life, increase the capacity or improve the efficiency or safety of the Company's property, plant and equipment are capitalized and depreciated over the remaining useful life of the related asset. Depreciable property is depreciated over the estimated useful lives of the assets, using principally the straight-line method.


	June 28, 2025		December 31, 2024
Land	$	103.0	$	98.6
Buildings and improvements	937.4		898.3
Machinery and equipment	5,895.1		5,485.2
Construction in progress	367.6		335.8
Total property, plant and equipment	7,303.1		6,817.9
Less – accumulated depreciation	(4,384.3)		(3,984.5)
Property, plant and equipment, net	$	2,918.8	$	2,833.4

Depreciation expense was $143.5 million and $141.2 million in the three months ended June 28, 2025 and June 29, 2024, respectively, and $286.0 million and $281.4 million in the six months ended June 28, 2025 and June 29, 2024, respectively.

The Company monitors its long-lived assets for impairment indicators on an ongoing basis in accordance with GAAP. If impairment indicators exist, the Company performs the required impairment analysis by comparing the undiscounted cash flows expected to be generated from the long-lived assets to the related net book values. If the net book value exceeds the undiscounted cash flows, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value estimates of long-lived assets are based on independent appraisals or discounted cash flows, giving consideration to the highest and best use of the assets. Key assumptions used in the appraisals are based on a combination of market and cost approaches, as appropriate.

In the first six months of 2025 and 2024, the Company recognized property, plant and equipment impairment charges of $3.9 million and $1.5 million, respectively, in conjunction with its restructuring actions (Note 2, "Restructuring"). In the first six months of 2024, the Company recognized additional property, plant and equipment impairment charges of $3.9 million. The impairment charges are included in cost of sales in the accompanying condensed consolidated statements of comprehensive income (loss).

As of June 28, 2025 and December 31, 2024, the Company has assets classified as held for sale of $5.9 million and $47.4 million, respectively. The criteria for classification as held for sale have been met, as management is committed to a plan to sell the assets, the assets are available for immediate sale in their present condition, an active program to locate a buyer has been

initiated, the sale is probable and expected to be completed within one year, and the assets are being marketed at a price that is reasonable in relation to their current fair value.

As of December 31, 2024, $42.0 million of the assets held for sale were in connection with the then-pending disposal of a non-core business in the Company's Seating segment. The sale was completed in the first quarter of 2025. Accordingly, the assets classified as held from sale have been removed from the balance sheet as of June 28, 2025.

In the six months ended June 28, 2025, an incremental loss of $3.3 million on the disposal of the non-core business was recognized to reflect adjustments to the carrying values of the assets and transaction expenses. The loss is included in other expense, net in the accompanying condensed consolidated statement of comprehensive income (loss) for the six months ended June 28, 2025. Proceeds from the sale of $35.9 million are included in cash flows from investing activities in the accompanying condensed consolidated statement of cash flows.