Property, Plant And Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, plant and equipment consisted of the following:



	December 31,
(In millions)	2019			2018
Land and land improvements	$	108.4		$	103.5
Buildings	626.9			656.7
Vessels	2,091.9			1,893.3
Machinery and equipment	1,930.6			1,905.7
Office fixtures and furniture	285.0			300.0
Construction in process	130.9			179.0
Other	277.1			290.1
	5,450.8			5,328.3
Accumulated depreciation	(2,288.8		)	(2,068.5		)
Property, plant and equipment, net	$	3,162.0		$	3,259.8

Depreciation expense was $383.5 million, $367.8 million and $370.2 million in 2019, 2018 and 2017, respectively. The amount of interest cost capitalized was not material for the years presented.

During 2019 and 2018, we determined the carrying amount of certain of our long-lived assets exceeded their fair value and recorded an impairment. Refer to Note 20 to these consolidated financial statements for additional information regarding this impairment.

In January 2019, we purchased a deepwater dive support vessel, Deep Discoverer, for $116.8 million. The purchase of this vessel was funded through debt. Refer to Note 16 to these consolidated financial statements for additional information.

In December 2019, we completed the sale of our G1201 vessel as part of our overall strategy to optimize the profile and size of our subsea fleet. As a result of the sale, a net loss of $7.1 million is included in other income (expense), net in our consolidated statements of income.