XML 27 R16.htm IDEA: XBRL DOCUMENT v3.25.2
Property, Plant and Equipment, Net
6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net
7. Property, Plant and Equipment, Net

Property, plant and equipment, net, ("PP&E") consisted of the following (in millions):
June 30,
2025
December 31, 2024
 
Equipment, furniture and fixtures, and software$213.7 $211.0 
Building and leasehold improvements37.6 36.8 
Land18.6 18.6 
Construction in progress13.5 8.0 
Plant and transportation equipment7.4 7.4 
$290.8 $281.8 
Less: Accumulated depreciation158.7 148.2 
Total$132.1 $133.6 

Depreciation expense was $5.5 million and $6.4 million for the three months ended June 30, 2025 and 2024, respectively. These amounts included $3.0 million and $3.9 million of depreciation expense recognized within cost of revenue for the three months ended June 30, 2025 and 2024, respectively. Depreciation expense was $11.4 million and $12.9 million for the six months ended June 30, 2025 and 2024, respectively. These amounts included $6.5 million and $7.9 million of depreciation expense recognized within cost of revenue for the six months ended June 30, 2025 and 2024, respectively.

As of June 30, 2025 and December 31, 2024, the net book value of equipment held under finance leases included in PP&E was $0.2 million and $0.5 million, respectively. As of June 30, 2025 and December 31, 2024, the gross value of capitalized internal-use software included in PP&E was $20.9 million and $20.7 million, respectively, and the net book value as of June 30, 2025 and December 31, 2024, was $8.2 million and $9.8 million, respectively.

Assets held-for-sale are included within Other current assets in the Condensed Consolidated Balance Sheets. As of June 30, 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.