Property, Plant and Equipment

3 Months Ended

Mar. 31, 2013

4. Property, Plant and Equipment

The components of the Company’s property, plant and equipment at March 31, 2013 and December 31, 2012 were as follows:

	March 31,		December 31,
	2013		2012
Land	$	96.2		$	98.7
Buildings		1,159.3			1,167.0
Machinery and equipment		6,000.1			6,022.7
		7,255.6			7,288.4
Accumulated depreciation		(5,710.7)			(5,671.8)
Total	$	1,544.9		$	1,616.6

During the three months ended March 31, 2013 and 2012, depreciation expense was $88.5 million and $95.4 million, respectively.

Assets Held for Sale

Primarily as a result of restructuring actions, certain facilities and equipment are considered held for sale. The net book value of assets held for sale was $24.1 million and $19.2 million at March 31, 2013 and December 31, 2012, respectively. These assets were included in other current assets in the Condensed Consolidated Balance Sheets at March 31, 2013 and December 31, 2012 at the lower of their historical net book value or their estimated fair value, less estimated costs to sell.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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