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Property, Plant and Equipment, net
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, net

Note 4—Property, Plant and Equipment, net

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

 

 

December 31,

 

 

 

2025

 

 

2024

 

Land

 

$

25.1

 

 

$

36.7

 

Building and improvements

 

 

223.5

 

 

 

256.6

 

Equipment, furniture, and fixtures

 

 

506.2

 

 

 

487.2

 

 

 

 

754.8

 

 

 

780.5

 

Less: accumulated depreciation

 

 

(465.3

)

 

 

(480.9

)

Total property, plant and equipment, net

 

$

289.5

 

 

$

299.6

 

Depreciation expense for the years ended December 31, 2025, 2024 and 2023 was $71.2 million, $73.5 million and $73.8 million, respectively.

Unpaid property, plant and equipment additions of $23.7 million and $3.6 million are included in accounts payable and other accrued expenses as of December 31, 2025 and 2024, respectively, in our consolidated balance sheet.

During the year ended December 31, 2025 we sold building and improvements for proceeds of $12.0 million resulting in a loss of $33.3 million recorded as other (expense) income in the Consolidated Statement of Comprehensive Income.