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Property and Equipment, net
 12 Months Ended
Dec. 31, 2025
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)20252024
Land and improvements$45.6 $44.7 
Buildings911.5 851.6 
Machinery and equipment3,092.8 2,833.2 
Other property and equipment153.4 141.8 
Construction-in-progress129.4 204.1 
Property and equipment, gross4,332.7 4,075.4 
Accumulated depreciation and amortization
(2,909.6)(2,677.5)
Property and equipment, net$1,423.1 $1,397.9 
For the years ended December 31, 2025 and December 31, 2024, we recorded impairment charges of approximately $24.4 million and $16.7 million, respectively, within Loss on disposal of long-lived assets and businesses, 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 on disposal of long-lived assets and businesses, 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)202520242023
Interest cost capitalized$9.9 $12.6 $13.1 
Depreciation and amortization expense(1)
$184.1 $178.3 $170.7 
 
(1)Includes amortization expense of finance lease ROU assets of $8.7 million, $9.1 million, and $10.0 million for the years ended December 31, 2025, 2024, and 2023, respectively.