The depreciable lives of plant and equipment are generally as follows:
Buildings and improvements
up to 40 years
Machinery and equipment
up to 15 years
PP&E, net as of December 31, 2025 and 2024 consisted of the following:
As of December 31,
20252024
Land$14.7 $15.7 
Buildings and improvements344.4 266.3 
Machinery and equipment1,909.1 1,831.1 
Total property, plant and equipment2,268.3 2,113.1 
Accumulated depreciation(1,491.8)(1,291.4)
Property, plant and equipment, net$776.5 $821.7 

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Feb 28, 2025
2023Feb 29, 2024
2022Feb 13, 2023
2021Feb 10, 2022
2020Feb 12, 2021
2019Feb 11, 2020
2018Feb 6, 2019
2017Feb 1, 2018
2016Feb 2, 2017
2015Feb 2, 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.