XML 33 R16.htm IDEA: XBRL DOCUMENT v3.24.0.1
Property and Equipment
12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment
8. Property and Equipment
The amount of property and equipment and their respective estimated useful lives are as follows (in millions):
As of December 31,
Estimated
20232022Useful Lives
Land$81.9 $72.8 Indefinite
Buildings and leasehold improvements108.4 103.6 
3 - 40 years
Office equipment, furniture and fixtures
14.1 15.7 
3 - 7 years
Computer equipment and software costs
329.2 292.2 
3 - 9 years
Machinery, equipment and vehicles (1)
433.4 395.4 
3 - 40 years
Total property and equipment
966.9 879.6 
Less: Accumulated depreciation and amortization (1)
451.6 395.4 
Total property and equipment, net
$515.3 $484.2 
(1)Includes right of use assets associated with finance leases. See Note 13. Leases for additional information.
For 2023, 2022 and 2021, we recorded depreciation expense of $68.3 million, $64.4 million and $50.8 million, respectively.
The amount of computer software costs, including capitalized internally developed software costs and certain hosting arrangement costs, included in property and equipment are as follows (in millions):
As of December 31,
20232022
Computer software costs$289.2 $249.5 
Less: Accumulated amortization175.0 150.2 
Computer software costs, net$114.2 $99.3 
Included in capitalized computer software costs are costs incurred in connection with software development in progress of $0.9 million and $5.2 million as of December 31, 2023 and 2022, respectively. For 2023, 2022 and 2021, we recorded amortization expense related to computer software costs of $25.4 million, $21.0 million and $17.6 million, respectively.