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Property, Plant and Equipment, Net
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Property, plant and equipment at cost and accumulated depreciation were as follows: 
 As of December 31,
(in millions)20232022
Land(1)
$9.0 $2.5 
Building and building improvements(2)
205.3 163.9 
Machinery and equipment572.2 527.0 
Furniture and fixtures18.1 17.2 
Leasehold improvements16.0 11.7 
Construction in process137.5 112.3 
Property, plant and equipment, gross958.1 834.6 
Less: accumulated depreciation(2)
(293.2)(234.7)
Property, plant and equipment, net$664.9 $599.9 
(1) Includes $6.5 million of land at December 31, 2023 related to the finance lease discussed in Note 15.
(2) Includes $31.7 million of building and building improvements and $0.4 million of accumulated depreciation at December 31, 2023 related to the finance lease discussed in Note 15.
Capitalized interest expense was $1.6 million, $1.3 million, and $5.6 million for the years ended December 31, 2023, 2022, and 2021, respectively. Depreciation expense related to property and equipment was $62.6 million, $56.0 million, and $50.6 million for the years ended December 31, 2023, 2022, and 2021, respectively. Construction in process primarily consists of manufacturing equipment for our new manufacturing facility being constructed in Malaysia and equipment and tooling for our existing manufacturing lines, most of which is expected to be placed into service during 2024.