Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net

Note 8—Property, Plant and Equipment, Net

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

	2019		2018
Land	$	26.5	$	26.8
Building and leasehold improvements		305.2		299.2
Machinery, equipment, software and furniture and fixtures		400.0		366.4
		731.7		692.4
Less accumulated depreciation and amortization		(425.6)		(421.8)
Property, plant and equipment, net	$	306.1	$	270.6

Depreciation expense, which includes the amortization of leasehold improvements, for the years ended December 31, 2019, 2018 and 2017 was $37.3 million, $36.0 million and $34.3 million, respectively.

During the years ended December 31, 2019 and 2017, the Company recorded impairment charges of $0.5 million and $1.1 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 19 - other charges, net, for additional details on the restructuring activities. There were no impairment charges in the year ended December 31, 2018.