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PROPERTY, PLANT, AND EQUIPMENT, NET
9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT, AND EQUIPMENT, NET PROPERTY, PLANT, AND EQUIPMENT, NET
The property, plant, and equipment at September 30, 2025 and December 31, 2024 were as follows:
(in millions)September 30,
2025
December 31,
2024
Leasehold improvements$79.8 $78.5 
Equipment114.9 148.5 
Property, plant, and equipment, gross
194.7 227.0 
Less accumulated depreciation(83.3)(109.6)
Property, plant, and equipment, net
$111.4 $117.4 

The Company recorded depreciation during the respective periods as follows:
Three months ended
September 30,
Nine months ended
September 30,
(in millions)2025202420252024
Depreciation expense$4.8 $4.8 $14.8 $14.5