Property, Plant and Equipment

6 Months Ended

Jun. 30, 2019

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment

The components of property, plant and equipment at June 30, 2019 and December 31, 2018 were as follows:

	June 30, 2019			December 31, 2018
Land	$	48.2		$	51.0
Buildings		378.0			389.5
Machinery and equipment		1,788.2			1,797.1
		2,214.4			2,237.6
Less: Accumulated depreciation		(1,693.5	)		(1,706.3	)
Total property, plant and equipment-net	$	520.9		$	531.3

During the three and six months ended June 30, 2019 depreciation expense was $26.9 million and $55.2 million, respectively. During the three and six months ended June 30, 2018 depreciation expense was $32.3 million and $65.6 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 six months ended June 30, 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 June 30, 2019, the carrying cost of the building and land use rights is recorded in Other noncurrent assets and is not material.