Property, Plant and Equipment

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Note 6. Property, Plant and Equipment

Property, plant and equipment consists of the following:


(in millions)	2025			2024
Land	$	23.6		$	21.6
Buildings		109.7			88.7
Equipment		508.9			439.6
Work in progress		70.0			62.1
Total gross cost		712.2			612.0
Less accumulated depreciation and impairment		(426.1	)		(342.3	)
Total net book value	$	286.1		$	269.7

Of the total net book value of equipment at December 31, 2025, $0.0 million are in respect of assets held under finance leases (2024 – $0.0 million).

Depreciation charges were $32.1 million, $31.0 million and $27.9 million in 2025, 2024 and 2023, respectively.

During the quarter ended September 30, 2025, the Company impaired property, plant and equipment assets within its Oilfield Services segment. The impaired assets totaled $22.9 million and relate largely to plant and equipment, which are no longer expected to generate sufficient discounted cash flows to support the valuations due to an expected lack of near-term recovery in our oilfield production business in Mexico and our stimulation business in the U.S..