Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 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):


	September 30, 2025		December 31, 2024


Equipment, furniture and fixtures, and software	$	221.2	$	211.0
Building and leasehold improvements	37.1		36.8
Land	18.9		18.6
Construction in progress	12.9		8.0
Plant and transportation equipment	7.1		7.4
	$	297.2	$	281.8
Less: Accumulated depreciation	162.8		148.2
Total	$	134.4	$	133.6

Depreciation expense was $5.7 million and $6.1 million for the three months ended September 30, 2025 and 2024, respectively. These amounts included $3.2 million and $3.7 million of depreciation expense recognized within cost of revenue for the three months ended September 30, 2025 and 2024, respectively. Depreciation expense was $17.1 million and $19.0 million for the nine months ended September 30, 2025 and 2024, respectively. These amounts included $9.7 million and $11.6 million of depreciation expense recognized within cost of revenue for the nine months ended September 30, 2025 and 2024, respectively.

As of September 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 September 30, 2025 and December 31, 2024, was $7.4 million and $9.8 million, respectively.

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