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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment The “Property, plant and equipment, net” line item in the consolidated statements of financial position consisted of the following:
| As of December 31,
(Dollars in millions) | 2023 |  | 2022
Land and improvements | $ | 16.8 |  |  | $ | 23.9 |
Buildings and improvements | 177.2 |  |  | 169.5 |
Machinery and equipment | 343.0 |  |  | 334.1 |
Office equipment | 70.7 |  |  | 61.5 |
Property plant and equipment, gross | 607.7 |  |  | 589.0 |
Accumulated depreciation | (385.7) |  |  | (381.6) |
Property, plant and equipment, net | 222.0 |  |  | 207.4 |
Construction in process | 144.3 |  |  | 151.0 |
Total property, plant and equipment, net | $ | 366.3 |  |  | $ | 358.4 |
Depreciation expense was $37.7 million, $29.5 million and $29.0 million in 2023, 2022 and 2021, respectively. Additionally, we recognized $47.2 million and $0.5 million of impairment charges in 2022 and 2021, respectively. For additional information related to the impairment charges, refer to “Note 14 – Supplemental Financial Information.”

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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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