Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2016

Note 7—Property, Plant and Equipment, Net

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

	2016			2015
Land	$	26.7		$	27.6
Building and leasehold improvements		266.7			261.9
Machinery, equipment, software and furniture and fixtures		323.1			314.0

		616.5			603.5
Less accumulated depreciation and amortization		(377.4	)		(372.4	)

Property, plant and equipment, net	$	239.1		$	231.1

Depreciation expense, which includes the amortization of leasehold improvements, for the years ended December 31, 2016, 2015 and 2014 was $32.6 million, $32.6 million and $39.5 million, respectively.

During the years ended December 31, 2016 and 2015, the Company recorded impairment charges of $0.8 million and $2.1 million, respectively, representing the write down to fair value of certain property, plant and equipment, net related to restructuring and outsourcing activities undertaken during the respective years. These impairment charges are recorded within other charges, net in the accompanying consolidated statements of income and comprehensive income (loss). Please see Note 17—other charges, net, for additional details on the restructuring activities.

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 additional 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 "other charges, net" in the accompanying consolidated statements of income and comprehensive income (loss).