Property, Plant and Equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

A summary of gross property, plant and equipment at December 31 is presented in the following table:



($ in millions)	Expected useful lives (years)	2012		2011
Land		$	9.0	$	8.9
Buildings and improvements	5-50	310.9		284.1
Machinery and equipment	10-15	607.1		565.7
Molds and dies	4-7	90.1		85.8
Computer hardware and software	3-10	102.5		76.2
Construction in progress		155.2		116.1
		$	1,274.8	$	1,136.8

Depreciation expense for the years ended December 31, 2012, 2011 and 2010 was $72.8 million, $71.1 million and $68.8 million, respectively.

Capitalized leases included in 'buildings and improvements' were $2.4 million and $2.3 million at December 31, 2012 and 2011, respectively. Capitalized leases included in 'machinery and equipment' were $1.8 million and $1.9 million at December 31, 2012 and 2011, respectively. Accumulated depreciation on all property, plant and equipment accounted for as capitalized leases was $1.6 million and $1.1 million at December 31, 2012 and 2011, respectively. At December 31, 2012, future minimum payments under capital leases were $0.3 million in 2013, $0.2 million in 2014, and $0.2 million in 2015.

Under the terms of our 2011 construction and development agreement, the majority of costs required to construct our new corporate office and research building was incurred by our counterparty during the construction period and paid by us at settlement in February 2013. As of December 31, 2012, construction and development costs in the amount of $35.3 million were accrued to property, plant and equipment. See Note 11, Debt, for further discussion of this capital project.

We capitalize interest on borrowings during the active construction period of major capital projects. Capitalized interest is added to the cost of the underlying assets and is amortized over the useful lives of the assets. Capitalized interest for the years ended December 31, 2012, 2011 and 2010 was $1.9 million, $1.1 million and $0.9 million, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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