Property, Plant and Equipment

12 Months Ended

Dec. 31, 2014

Note 7—Property, Plant and Equipment

The following is a summary of property, plant and equipment by major asset class at December 31, (in millions):

	2014			2013
Land	$	29.7		$	34.9
Building and leasehold improvements		272.1			301.7
Machinery, equipment, software and furniture and fixtures		320.9			362.6

		622.7			699.2
Less accumulated depreciation and amortization		(372.8	)		(399.7	)

Property, plant and equipment, net	$	249.9		$	299.5

Depreciation expense, which includes the amortization of leasehold improvements, for the years ended December 31, 2014, 2013 and 2012 was $39.5 million, $40.5 million and $37.1 million, respectively.

In July 2014, the Company's Board of Directors approved a plan (the "Plan") to divest certain assets and implement a restructuring program in the former Chemical and Applied Markets (CAM) division within the Bruker CALID Group. The Plan was developed as a result of management's conclusion that the former CAM business would be unable to achieve acceptable financial performance in the next two years. Please see Note 17—Other Charges, net, for more details on the Plan. The Company determined the Plan was an indicator requiring the evaluation of property, plant and equipment within that reporting unit for recoverability. The Company performed a valuation during 2014 and determined that the property, plant and equipment within the former CAM division were impaired. The Company recorded an impairment charge of $5.5 million in the year ended December 31, 2014 to reduce the remaining value of those assets to fair value. In addition, the Company determined, based upon projected cash flows generated by certain assets in the BEST segment, that an impairment charge of $5.1 million was necessary during the year ended December 31, 2014 to reduce the carrying value of those assets to their estimated fair values. These impairment charges are recorded within "Impairment of assets" in the accompanying statements of income and comprehensive income.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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