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Property, Plant and Equipment
3 Months Ended
Mar. 31, 2014
Property, Plant and Equipment

4. Property, Plant and Equipment

The components of the Company’s property, plant and equipment at March 31, 2014 and December 31, 2013 were as follows:

 

 

March 31,
2014

 

  

December 31,
2013

 

Land

$

117.5

 

  

$

94.3

 

Buildings

 

1,228.7

 

  

 

1,160.6

 

Machinery and equipment

 

6,255.8

 

  

 

6,024.0

 

 

 

7,602.0

 

  

 

7,278.9

 

Accumulated depreciation

(5,902.4

)

  

 

(5,848.8

)

Total

$

1,699.6

 

  

$

1,430.1

  

During the three months ended March 31, 2014 and 2013, depreciation expense was $87.9 million and $88.5 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 $23.9 million and $18.5 million at March 31, 2014 and December 31, 2013, respectively. These assets were included in other current assets in the Condensed Consolidated Balance Sheets at March 31, 2014 and December 31, 2013 at the lower of their historical net book value or their estimated fair value, less estimated costs to sell.