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Property, Plant and Equipment
 12 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
Property, plant and equipment consist of the following components:
 31 March
(Millions of US dollars)20232022
Land$79.8 $83.6 
Buildings568.1 530.6 
Machinery and equipment2,044.2 1,880.0 
Construction in progress502.6 167.9 
Property, plant and equipment, at cost3,194.7 2,662.1 
Less accumulated depreciation(1,355.1)(1,205.1)
Property, plant and equipment, net$1,839.6 $1,457.0 
Depreciation expense for the fiscal years ended 31 March 2023, 2022 and 2021 was US$166.8 million, US$155.6 million and US$129.6 million, respectively.
The amount of capitalized interest was US$8.5 million and US$1.9 million for the years ended 31 March 2023 and 2022, respectively.