Quarterly report pursuant to Section 13 or 15(d)

Property, Plant, and Equipment, Net

v3.24.3
Property, Plant, and Equipment, Net
 9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant, and Equipment, Net Property, Plant and Equipment, Net
Property, plant and equipment, net consist of the following (in millions):
  Depreciable
Lives		   September 30, 2024 December 31, 2023
Land, buildings, and leasehold improvements
3 - 39 years
   $ 52.5  $ 49.4 
Machinery and equipment
5 - 15 years
   49.7  38.5 
Badges
3 - 5 years
   53.3  41.0 
Furniture, fixtures, computer equipment and other
3 - 10 years
   23.4  22.9 
Software development costs
3 - 5 years
 24.0  10.7 
Construction in progress (1)
—   18.4  28.6 
      221.3  191.1 
Less: accumulated depreciation and amortization     (75.0) (56.6)
      $ 146.3  $ 134.5 
(1) Includes $3.6 million and $4.2 million of Construction in progress for internally developed software as of September 30, 2024, and December 31, 2023, respectively.
Total depreciation expense included in costs of revenues and operating expenses was as follows (in millions):
Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended
September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023
Depreciation expense in:
Cost of revenues $ 6.1  $ 4.8  $ 16.9  $ 14.2 
Operating expenses $ 2.3  $ 3.1  $ 6.2  $ 8.8