Property, plant, equipment and software, net consisted of the following components at June 30, 2025 and 2024:

 June 30,
($ in millions)20252024
Land$41.6 $40.6 
Buildings and building equipment576.5 562.7 
Machinery and equipment2,547.5 2,454.4 
Capitalized software228.6 225.3 
Construction in progress103.1 68.2 
Total at cost3,497.3 3,351.2 
Less: accumulated depreciation and amortization2,137.9 2,016.0 
Total property, plant, equipment and software, net$1,359.4 $1,335.2 
 
The estimated useful lives of depreciable assets are as follows:
 
Asset Category Useful Life
(in Years)
Buildings and building equipment 
10 – 45
Machinery and equipment 
3 – 30
Capitalized software
3 – 15
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Historical Timeline

Fiscal YearFiled
2025Aug 12, 2025Showing above
2024Aug 13, 2024
2023Aug 11, 2023
2022Aug 15, 2022
2021Aug 19, 2021
2020Sep 4, 2020
2019Aug 29, 2019
2018Aug 14, 2018
2017Aug 11, 2017
2016Aug 18, 2016

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.