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Property, Plant and Equipment, Net | 12 Months Ended
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Dec. 31, 2024
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) | 2024 |  | 2023
Land | $ | 12.2 |  |  | $ | 9.0 |
Building and building improvements | 226.8 |  |  | 205.3 |
Machinery and equipment | 672.7 |  |  | 572.2 |
Furniture and fixtures | 20.8 |  |  | 18.1 |
Leasehold improvements | 16.4 |  |  | 16.0 |
Construction in process | 136.6 |  |  | 137.5 |
Property, plant and equipment, gross | 1,085.5 |  |  | 958.1 |
Less: accumulated depreciation | (362.4) |  |  | (293.2) |
Property, plant and equipment, net | $ | 723.1 |  |  | $ | 664.9 |
Capitalized interest expense was $1.5 million, $1.6 million, and $1.3 million for the years ended December 31, 2024, 2023, and 2022, respectively. Depreciation expense related to property and equipment was $71.0 million, $62.6 million, and $56.0 million for the years ended December 31, 2024, 2023, and 2022, respectively. Construction in process primarily consists of equipment and tooling expected to be placed into service during 2025.

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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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