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Property, Plant, and Equipment | 9 Months Ended
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Sep. 30, 2023
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment Disclosure | Note 7: Property, Plant, and Equipment As of August 11, 2023, as a result of Fresh Start Accounting, we have adjusted our property, plant and equipment, balances and remaining useful lives, to fair value. See Note 3 for additional information. In the Successor Period, property, plant, and equipment balances reflect fair value as of August 11, 2023 plus additions less disposals, depreciation and amortization for the period of August 12, 2023 through September 30, 2023. In the Predecessor Period, property, plant, and equipment is reflected at cost less accumulated depreciation and amortization. The following is a summary of property, plant, and equipment:
|  |  | Successor |  |  | Predecessor
| Estimated Useful Life (years) |  | September 30, 2023 |  |  | December 31, 2022
Land and land improvements | (1) |  | $ | 20.8 |  |  |  | $ | 10.0 |
Buildings and building improvements | 15-30 |  | 40.9 |  |  |  | 68.3 |
Machinery, tools and equipment | 5-12 |  | 34.3 |  |  |  | 81.8 |
Leasehold improvements (2) | 10 |  | 6.5 |  |  |  | 17.2 |
Computer equipment | 3 |  | 17.7 |  |  |  | 101.1 |
Computer software | 5-10 |  | 6.1 |  |  |  | 127.8 |
Furniture and fixtures | 5-8 |  | 17.4 |  |  |  | 54.6 |
Tooling | 3-5 |  | 10.9 |  |  |  | 134.7 |
Construction in progress |  |  | 13.0 |  |  |  | 4.6 |
Total property plant and equipment, at cost |  |  | $ | 167.6 |  |  |  | $ | 600.1 |
Less accumulated depreciation and amortization |  |  | (8.6) |  |  |  | (479.4) |
Total property, plant, and equipment, net |  |  | $ | 159.0 |  |  |  | $ | 120.7 |
(1)Estimated useful life for land and land improvements is perpetual and 15 years, respectively. (2)The estimated useful life for leasehold improvements is the lesser of 10 years or the term of the lease. Depreciation expense is computed on a straight-line basis over the estimated useful lives of the related assets. Depreciation expense was as follows:
| Successor |  |  | Predecessor
| Period from |  |  | Period from |  | Three months ended
| 08/12/2023 through 09/30/2023 |  |  | 07/01/2023 through 08/11/2023 |  | September 30, 2022
Depreciation expense | $ | 5.4 |  |  |  | $ | 5.8 |  |  | $ | 6.7 |
| Period from |  |  | Period from |  | Nine months ended
| 08/12/2023 through 09/30/2023 |  |  | 01/01/2023 through 08/11/2023 |  | September 30, 2022
Depreciation expense | $ | 5.4 |  |  |  | $ | 18.3 |  |  | $ | 23.0 |

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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//1943274/2147480321/958-360-50-6 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//1943274/2147480321/958-360-50-1 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//1943274/2147480321/958-360-50-7 + Details
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