Property, plant and equipment, net as of December 31, 2025 and 2024 consisted of the following.
20252024
Land and land improvements$70.0 $62.3 
Buildings436.1 385.6 
Machinery and equipment909.6 792.6 
Office furniture and equipment87.9 76.8 
Construction in progress116.3 92.3 
1,619.9 1,409.6 
Accumulated depreciation(689.6)(567.5)
Property, plant and equipment, net$930.3 $842.1 

Historical Timeline

Fiscal YearFiled
2025Feb 17, 2026Showing above
2024Feb 19, 2025
2023Feb 23, 2024
2022Feb 21, 2023
2021Feb 25, 2022
2020Feb 26, 2021
2019Feb 26, 2020
2018Feb 27, 2019
2017Feb 16, 2018

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.