Property, Plant and Equipment

9 Months Ended

Sep. 30, 2021

Property Plant And Equipment [Abstract]

8. Property, Plant and Equipment

The components of property, plant and equipment as of September 30, 2021 and December 31, 2020 are summarized as follows:


	September 30, 2021			December 31, 2020
Land	$	19.6		$	20.3
Building and improvements		200.4			203.7
Machinery, equipment and tooling		293.6			292.6
Furniture and fixtures		15.1			21.0
Computer hardware and software		125.7			119.3
Rental cranes		94.4			90.2
Construction in progress		13.8			9.0
Total cost		762.6			756.1
Less accumulated depreciation		(460.8	)		(461.8	)
Property, plant and equipment — net	$	301.8		$	294.3

Property, plant and equipment are depreciated over the asset’s estimated useful life using the straight-line depreciation method for financial reporting and accelerated methods for income tax purposes.

Assets Held for Sale

As of September 30, 2021 and December 31, 2020, the Company had $3.1 million and $3.3 million, respectively, classified as other current assets in the Condensed Consolidated Balance Sheets. These amounts relate to a building and land in Fanzeres, Portugal that are held for sale.

Asset Impairment

During the three months ended September 30, 2021, the Company recorded an asset impairment of $1.9 million to write-down one of the Company's Brazilian entities to its expected sale price.