A summary of the Company's property, plant and equipment follows:
(in millions)December 31,
2025
December 31,
2024
Land$57.8 $50.8 
Buildings and leasehold improvements500.7 475.0 
Machinery and equipment828.5 763.5 
Projects in progress194.1 125.0 
Property, plant and equipment, gross1,581.1 1,414.3 
Accumulated depreciation(774.0)(702.5)
Property, plant and equipment, net$807.1 $711.8 

Historical Timeline

Fiscal YearFiled
2025Feb 13, 2026Showing above
2024Feb 14, 2025
2023Feb 16, 2024
2022Feb 16, 2023
2021Feb 17, 2022
2020Feb 11, 2021
2019Feb 10, 2020
2018Feb 14, 2019
2017Feb 16, 2018
2016Feb 13, 2017
2015Feb 8, 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.