v3.26.1
Property, Plant and Equipment, net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant and Equipment, net

Note 2—Property, Plant and Equipment, net

Property, plant and equipment and the related accumulated depreciation are as follows (in millions):

 

 

June 30,

 

 

December 31,

 

 

 

 

2026

 

 

2025

 

 

Land

 

$

24.1

 

 

$

25.1

 

 

Building and improvements

 

 

214.3

 

 

 

223.5

 

 

Equipment, furniture, and fixtures

 

 

504.7

 

 

 

506.2

 

 

 

 

 

743.1

 

 

 

754.8

 

 

Less: accumulated depreciation

 

 

(477.8

)

 

 

(465.3

)

 

Total property, plant and equipment, net

 

$

265.3

 

 

$

289.5

 

 

 

Depreciation expense for the three and six months ended June 30, 2026 was $17.5 million and $35.7 million, respectively. Depreciation expense for the three and six months ended June 30, 2025 was $17.9 million and $35.7 million, respectively.

As of June 30, 2026 and December 31, 2025, unpaid property, plant and equipment additions totaling $21.6 million and $23.7 million, respectively, are included in accounts payable and other accrued expenses, in our unaudited Condensed Consolidated Balance Sheets.

Amortization expense related to capitalized software development costs for the three and six months ended June 30, 2026 was $41.1 million and $81.8 million, respectively. Amortization expense related to capitalized software development costs for the three and six months ended June 30, 2025 was $36.7 million and $71.0 million, respectively. Capitalized software is included in intangible and other assets, net, in our unaudited Condensed Consolidated Balance Sheets.