v3.25.4
Net Property, Plant and Equipment
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Net Property, Plant and Equipment

Note 4 — Net Property, Plant and Equipment

 

 

 

December 31,

 

(In millions)

 

2025

 

 

2024

 

Land

 

$

123.9

 

 

$

119.2

 

Buildings

 

 

766.3

 

 

 

727.5

 

Equipment

 

 

2,122.7

 

 

 

2,028.1

 

Construction in progress

 

 

306.4

 

 

 

285.5

 

Finance lease

 

 

3.1

 

 

 

2.8

 

Property, plant and equipment

 

 

3,322.4

 

 

 

3,163.1

 

Less accumulated depreciation

 

 

(1,710.9

)

 

 

(1,566.4

)

Net property, plant and equipment

 

$

1,611.5

 

 

$

1,596.7

 

 

Depreciation expense related to property, plant and equipment for the years ended December 31, 2025, 2024 and 2023, was $116.7 million, $117.5 million and $118.0 million, respectively. Capitalized interest of $15.2 million, $10.7 million, and $6.7 million for 2025, 2024 and 2023, respectively, was included in construction in progress. Capitalized costs associated with software accessed through a hosting arrangement were $27.6 million for 2025, $17.6 million for 2024, and $7.4 million for 2023 and are included within other assets on the Consolidated Balance Sheet.