Property, Plant and Equipment

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

The major components of property, plant and equipment, including equipment under capital leases, were as follows:

(amounts in millions)	September 30, 2016			December 31, 2015
Land and leasehold improvements	$	109.2		$	107.9
Buildings and improvements	138.1			143.8
Machinery, equipment, fixtures and software	302.4			276.8
Construction in process	27.4			21.4
Assets under capital lease:
Land and buildings	8.2			6.4
Machinery and equipment	5.3			5.1
Total property, plant and equipment	590.6			561.4
Accumulated depreciation	(111.1		)	(64.3		)
Accumulated amortization of capital leases	(6.8		)	(5.5		)
Property, plant and equipment, net	$	472.7		$	491.6

For the three months ended September 30, 2016 and 2015, the Company recorded depreciation expense of $18.9 million and $11.6 million, respectively. For the nine months ended September 30, 2016 and 2015, the Company recorded depreciation expense of $55.8 million and $33.7 million, respectively.

In March 2016, the Company entered into a sale agreement for a long-lived asset with a net book value of $12.1 million in exchange for a cash payment of $9.3 million, net of estimated selling costs of $0.2 million. As a result, the Company reduced the net book value of the asset by $2.8 million, which was recorded in "Selling, technical, general and administrative expense" in the Condensed Consolidated Statements of Operations during the first quarter of 2016. The asset was subsequently sold during the second quarter of 2016.