Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.23.1
Property, Plant and Equipment
 12 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
Property, plant and equipment consist of the following components:
  31 March
(Millions of US dollars) 2023 2022
Land $ 79.8  $ 83.6 
Buildings 568.1  530.6 
Machinery and equipment 2,044.2  1,880.0 
Construction in progress 502.6  167.9 
Property, plant and equipment, at cost 3,194.7  2,662.1 
Less accumulated depreciation (1,355.1) (1,205.1)
Property, plant and equipment, net $ 1,839.6  $ 1,457.0 
Depreciation expense for the fiscal years ended 31 March 2023, 2022 and 2021 was US$166.8 million, US$155.6 million and US$129.6 million, respectively.
The amount of capitalized interest was US$8.5 million and US$1.9 million for the years ended 31 March 2023 and 2022, respectively.