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Property, Plant and Equipment, Net | 9 Months Ended
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Sep. 30, 2024
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):
|  | September 30, |  |  | December 31, |  |
|  | 2024 |  |  | 2023 |  |
Land |  | $ | 38.7 |  |  | $ | 37.7 |  |
Building and improvements |  |  | 265.8 |  |  |  | 265.5 |  |
Equipment, furniture, and fixtures |  |  | 568.8 |  |  |  | 525.7 |  |
|  |  | 873.3 |  |  |  | 828.9 |  |
Less: accumulated depreciation |  |  | (563.9 | ) |  |  | (513.6 | ) |
Total property, plant and equipment, net |  | $ | 309.4 |  |  | $ | 315.3 |  |
Depreciation expense for the three and nine months ended September 30, 2024 was $18.9 million and $55.2 million, respectively. Depreciation expense for the three and nine months ended September 30, 2023 was $18.0 million and $55.1 million, respectively. As of September 30, 2024 and December 31, 2023, assets held for sale wer e $5.9 million and $9.0 million, respectively, and are presented in prepaid expenses and other current assets in our condensed consolidated balance sheet. As of September 30, 2024, we are exploring a sale of certain real estate assets with a carrying value of approximately $49 million. As the potential sale is not currently considered probable within twelve months, these assets have not been classified as held for sale. An estimated loss of approximately $35 million would be recorded if the held for sale criteria were met. Unpaid property, plant and equipment additions of $5.9 million and $2.9 million are included in accounts payable and other accrued expenses as of September 30, 2024 and December 31, 2023, respectively, in our condensed consolidated balance sheet.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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