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v3.23.1

Property, Plant and Equipment | 3 Months Ended
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Mar. 31, 2023
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | 8. Property, Plant, and Equipment The components of property, plant, and equipment as of March 31, 2023 and December 31, 2022 are summarized as follows:
|  | March 31, 2023 |  |  | December 31, 2022 |
Land |  | $ | 14.7 |  |  | $ | 17.9 |
Building and improvements |  |  | 197.0 |  |  |  | 194.7 |
Machinery, equipment, and tooling |  |  | 305.3 |  |  |  | 300.6 |
Furniture and fixtures |  |  | 14.0 |  |  |  | 13.8 |
Computer hardware and software |  |  | 130.5 |  |  |  | 129.4 |
Rental cranes |  |  | 159.4 |  |  |  | 157.8 |
Construction in progress |  |  | 10.4 |  |  |  | 8.4 |
Total cost |  |  | 831.3 |  |  |  | 822.6 |
Less: accumulated depreciation |  |  | (499.7 | ) |  |  | (487.3 | )
Property, plant, and equipment - net |  | $ | 331.6 |  |  | $ | 335.3 |
Property, plant, and equipment is depreciated over the estimated useful life of the asset using the straight-line depreciation method for financial reporting and accelerated methods for income tax purposes. Assets Held for Sale As of March 31, 2023, the Company had $6.2 million of property, plant and equipment classified as assets held for sale in other current assets in the Condensed Consolidated Balance Sheets. This amount relates to land held for sale by one of the Company's Indian subsidiaries and a manufacturing building and land in Fanzeres, Portugal.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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