Property, Plant, and Equipment

3 Months Ended

Mar. 31, 2026

Property, plant, and equipment consists of the following (in millions):


	March 31, 2026		December 31, 2025
Land and land improvements	$	266.5	$	266.5
Buildings, building improvements, and leasehold improvements	949.7		944.7
Buildings under construction	704.2		592.7
Furniture, equipment, and vehicles	509.6		493.6
Subtotal	2,430.0		2,297.5
Less—accumulated depreciation	(589.3)		(567.8)
Property, plant, and equipment, net	$	1,840.7	$	1,729.7

Depreciation expense for the three months ended March 31, 2026 and 2025 was $21.6 million and $19.6 million, respectively.