The provision for depreciation has been computed principally by the straight-line method based on the estimated useful lives of the depreciable assets as follows:
CategoryUseful Life
Buildings
30 years
Leased assets and leasehold improvementsAmortized over the lesser of the economic life of the asset or the term of the lease
Machinery, equipment and other assets
3 – 10 years
The classes of property, plant and equipment are summarized as follows ($ in millions):
December 31, 2025December 31, 2024
Land and improvements$10.0 $10.0 
Buildings and improvements168.6 166.0 
Machinery, equipment and other assets476.8 431.2 
Construction in progress49.1 33.9 
Gross property, plant and equipment704.5 641.1 
Less: accumulated depreciation(407.7)(364.1)
Property, plant and equipment, net$296.8 $277.0 

Historical Timeline

Fiscal YearFiled
2025Feb 12, 2026Showing above
2024Feb 13, 2025
2023Feb 15, 2024
2022Feb 16, 2023
2021Feb 24, 2022
2020Feb 19, 2021
2019Feb 21, 2020

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.