Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2017

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):

	2017			2016
Land	$	28.1		$	26.7
Building and leasehold improvements		294.8			266.7
Machinery, equipment, software and furniture and fixtures		364.9			323.1

		687.8			616.5
Less accumulated depreciation and amortization		(421.3	)		(377.4	)

Property, plant and equipment, net	$	266.5		$	239.1

Depreciation expense, which includes the amortization of leasehold improvements, for the years ended December 31, 2017, 2016 and 2015 was $34.3 million, $32.6 million and $32.6 million, respectively.

During the years ended December 31, 2017, 2016 and 2015, the Company recorded impairment charges of $1.1 million, $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. Please see Note 17—other charges, net, for additional details on the restructuring activities.