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Property and Equipment, net | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Property and Equipment, net | Property and Equipment, net The following table details our property and equipment, net.
|  | December 31,
(In millions) |  | 2024 |  | 2023
Land and improvements |  | $ | 44.7 |  |  | $ | 47.5 |
Buildings |  | 851.6 |  |  | 835.8 |
Machinery and equipment |  | 2,833.2 |  |  | 2,811.5 |
Other property and equipment |  | 141.8 |  |  | 142.0 |
Construction-in-progress |  | 204.1 |  |  | 227.0 |
Property and equipment, gross |  | 4,075.4 |  |  | 4,063.8 |
Accumulated depreciation and amortization |  | (2,677.5) |  |  | (2,647.4) |
Property and equipment, net |  | $ | 1,397.9 |  |  | $ | 1,416.4 |
For the year ended December 31, 2024, we recorded an impairment charge of approximately $16.7 million within (Loss) Gain on disposal and sale of businesses and property and equipment, net on the Consolidated Statements of Operations, related to various business line rationalizations. For the year ended December 31, 2023, we recorded an impairment charge of approximately $25.8 million within (Loss) Gain on disposal and sale of businesses and property and equipment, net on the Consolidated Statements of Operations, related to closure activity of Kevothermal, the plant-based rollstock business and other activities as part of the CTO2Grow Program. See Note 13, "Restructuring Activities," for further details related to the business closure activity. The following table details our interest cost capitalized and depreciation and amortization expense for property and equipment and finance lease ROU assets.
|  | Year Ended December 31,
(In millions) |  | 2024 |  | 2023 |  | 2022
Interest cost capitalized |  | $ | 12.6 |  |  | $ | 13.1 |  |  | $ | 8.9 |
Depreciation and amortization expense(1) |  | $ | 178.3 |  |  | $ | 170.7 |  |  | $ | 148.5 |
(1)Includes amortization expense of finance lease ROU assets of $9.1 million, $10.0 million, and $10.5 million for the years ended December 31, 2024, 2023 and 2022, respectively.

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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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