The components of property, plant and equipment, net as of December 31, 2025 and 2024 were as follows:


	December 31,
	2025			2024
Land	$	11.1		$	11.2
Buildings and improvements		441.2			436.0
Machinery and equipment		1,413.7			1,375.5
Construction in progress		137.5			92.1
Subtotal		2,003.5			1,914.8
Less allowances for depreciation		(1,441.0	)		(1,407.5	)
Property, plant and equipment, net	$	562.5		$	507.3

Total depreciation expense was $55.7 million, $52.4 million, and $54.6 million for the years ended December 31, 2025, 2024, and 2023, respectively. There was no accelerated depreciation or impairment charges for the years ended December 31, 2025, 2024 and 2023.

For the year ended December 31, 2025, the Company recorded a net gain on sale and disposal of assets of $1.3 million primarily related to the sale of land in first quarter of 2025.

For the year ended December 31, 2024, the Company recorded a net loss on sale and disposal of assets of $0.6 million primarily related to the write-offs of aged assets removed from service.

For the year ended December 31, 2023, the Company recorded a net gain on sale and disposal of assets of $2.5 million primarily related to the sale of the small-diameter seamless mechanical tubing machinery and equipment, partially offset by assets removed from service.

Supplemental cash flow information related to non-cash investing activity was as follows:


	Year Ended December 31,
	2025		2024		2023
Accrued property, plant and equipment purchases	$	16.0	$	17.6	$	12.1