Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Property Plant and Equipment Policy

Depreciation is calculated by the straight-line method over the estimated useful lives of depreciable assets which are as follows:

Buildings and improvements	10 to 40 years
Machinery and equipment	2 to 7 years
Software and computer equipment	3 to 5 years
Furniture, fixtures and other equipment	4 to 10 years

Property, plant and equipment consist of the following:

	December 31,
	2019			2018
	(In thousands)
Land	$	219,785		$	222,884
Land use rights (1)	—			26,845
Buildings and improvements	1,571,653			1,523,065
Machinery and equipment	5,303,729			5,196,930
Finance lease machinery and equipment	34,158			25,874
Software and computer equipment	220,264			213,440
Furniture, fixtures and other equipment	19,740			17,204
Construction in progress	12,593			44,381
Total property, plant and equipment	7,381,922			7,270,623
Less accumulated depreciation and amortization	(4,977,072		)	(4,620,175		)
Total property, plant and equipment, net	$	2,404,850		$	2,650,448

(1) Effective January 1, 2019, and in connection with the adoption of Topic 842, land use rights were reclassified to operating lease right of use asset within our Consolidated Balance Sheet.

The following table summarizes our depreciation expense:

	For the Year Ended December 31,
	2019		2018		2017
	(In thousands)
Depreciation expense	$	522,011	$	570,304	$	580,172