Property, Plant and Equipment

3 Months Ended

Mar. 31, 2019

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment

The components of property, plant and equipment at March 31, 2019 and December 31, 2018 were as follows:

	March 31, 2019			December 31, 2018
Land	$	51.1		$	51.0
Buildings		395.1			389.5
Machinery and equipment		1,807.6			1,797.1
		2,253.8			2,237.6
Less: Accumulated depreciation		(1,722.9	)		(1,706.3	)
Total property, plant and equipment-net	$	530.9		$	531.3

During the three months ended March 31, 2019 and 2018 depreciation expense was $28.3 million and $33.3 million, respectively.

During the fourth quarter of 2017, we entered into an agreement to sell a printing facility in Shenzhen, China and transfer the related land use rights. During the three months ended March 31, 2018, we received non-refundable deposits in accordance with the terms of the agreement of approximately $32.1 million which are recorded in Other noncurrent liabilities on the Consolidated Balance Sheets. As of March 31, 2019, we continue to classify the carrying cost of the building within property, plant and equipment and record depreciation expense. The combined carrying cost of the building and land use rights is not significant.