v3.26.1
Property, Plant and Equipment
 12 Months Ended
Mar. 31, 2026
Notes To Financial Statements [Abstract]  
Property, Plant and Equipment
7. PROPERTY, PLANT, AND EQUIPMENT
Information related to the major categories of our depreciable assets is as follows:
(in millions)
 March 31,20262025
Land and land improvements (1)
$112.3 $106.1 
Buildings and leasehold improvements903.6 832.1 
Machinery and equipment1,434.3 1,205.4 
Information systems316.3 282.1 
Radioisotope829.9 749.8 
Construction in progress (1)
509.5 512.1 
Total property, plant, and equipment4,105.9 3,687.7 
Less: accumulated depreciation and depletion(1,944.6)(1,731.1)
Property, plant, and equipment, net$2,161.2 $1,956.5 
(1) Land is not depreciated. Construction in progress is not depreciated until placed in service.
Depreciation and depletion expense were $218.3 million, $199.7 million and $181.7 million, for the years ended March 31, 2026, 2025, and 2024, respectively.
Asset Retirement Obligations
We provide contract sterilization services including Gamma irradiation which utilizes cobalt-60 in the form of cobalt pencils. We have incurred asset retirement obligations (ARO) associated with the future disposal of these assets once depleted. Recognition of ARO includes: the present value of a liability and offsetting asset, the subsequent accretion of that liability and depletion of the asset, and the periodic review of the ARO liability estimates and discount rates used in the analysis.
The following table summarizes the activity in the liability for asset retirement obligations.
(in millions)Asset Retirement Obligations
Balance at March 31, 2024$13.7 
Liabilities incurred during the period0.6 
Liabilities settled during the period(0.1)
Accretion expense and change in estimate0.3 
Foreign currency and other(0.1)
Balance at March 31, 2025$14.4 
Liabilities incurred during the period1.0 
Liabilities settled during the period— 
Accretion expense and change in estimate0.3 
Foreign currency and other(0.4)
Balance at March 31, 2026$15.3