XML 22 R12.htm IDEA: XBRL DOCUMENT v3.23.3
PROPERTY, PLANT AND EQUIPMENT, NET
 9 Months Ended
Sep. 30, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT, NET PROPERTY, PLANT AND EQUIPMENT, NET
The property, plant and equipment at September 30, 2023 and December 31, 2022 were as follows:
(in millions)September 30,
2023		December 31,
2022
Leasehold improvements$96.7 $67.9 
Equipment142.2 124.7 
Property, plant and equipment, gross238.9 192.6 
Less accumulated depreciation(118.2)(109.2)
Property, plant and equipment, net$120.7 $83.4 
During the nine months ended September 30, 2023, the Company incurred $5.7 million of accelerated depreciation of leasehold improvements and equipment in connection with the Company's decision to cease the use of its corporate headquarters in Salt Lake City and transition corporate support operations to its new facility in west Salt Lake City. The Company expects to designate a sub-lessee or new tenant for the facility and, therefore, has not recognized a loss on the lease as of September 30, 2023. See Note 15 for further discussion.
During the nine months ended September 30, 2022, the Company ceased the use of certain leased Salt Lake City facilities. As a result, the Company recognized a $2.1 million impairment on the property, plant and equipment associated with the leases, which consisted primarily of leasehold improvements. See Note 15 for further discussion.
The Company recorded depreciation during the respective periods as follows:
Three months ended
September 30,		Nine months ended
September 30,
(in millions)2023202220232022
Depreciation expense$3.4 $2.9 $14.8 $8.5