Property, Plant and Equipment, Net

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

7. Property, Plant and Equipment, Net

Property, plant and equipment, net, ("PP&E") consisted of the following (in millions):


	March 31, 2025		December 31, 2024


Equipment, furniture and fixtures, and software	$	212.6	$	211.0
Building and leasehold improvements	36.9		36.8
Land	18.6		18.6
Construction in progress	10.9		8.0
Plant and transportation equipment	7.4		7.4
	$	286.4	$	281.8
Less: Accumulated depreciation	153.8		148.2
Total	$	132.6	$	133.6

Depreciation expense was $5.9 million and $6.5 million for the three months ended March 31, 2025 and 2024, respectively. These amounts included $3.5 million and $4.0 million of depreciation expense recognized within cost of revenue for the three months ended March 31, 2025 and 2024, respectively.

As of March 31, 2025 and December 31, 2024, the net book value of equipment held under finance leases included in PP&E was $0.1 million and $0.5 million, respectively. As of both March 31, 2025 and December 31, 2024, the gross value of capitalized internal-use software included in PP&E was $20.7 million, and the net book value as of March 31, 2025 and December 31, 2024, was $9.0 million and $9.8 million, respectively.

Assets held-for-sale are included within Other current assets in the Condensed Consolidated Balance Sheets. As of March 31, 2025, there were $6.0 million in assets held-for-sale, which primarily consisted of one building, equipment and land and the associated improvements at the Company's Infrastructure segment. As of December 31, 2024, there were $7.0 million in assets held-for-sale, which primarily consisted of one building, equipment and land and the associated building improvements at the Company's Infrastructure segment.