Property, Plant and Equipment

9 Months Ended

Sep. 30, 2019

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment

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

	September 30, 2019			December 31, 2018
Land	$	47.8		$	51.0
Buildings		380.7			389.5
Machinery and equipment		1,778.4			1,797.1
		2,206.9			2,237.6
Less: Accumulated depreciation		(1,693.3	)		(1,706.3	)
Total property, plant and equipment-net	$	513.6		$	531.3

During the three and nine months ended September 30, 2019 depreciation expense was $30.2 million and $85.4 million, respectively. During the three and nine months ended September 30, 2018 depreciation expense was $30.9 million and $96.5 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. As of September 30, 2019, we have received non-refundable deposits in accordance with the terms of the agreement of approximately $68.3 million which is recorded in Other noncurrent liabilities on the Consolidated Balance Sheets. As of September 30, 2019, the carrying cost of the building and land use rights is recorded in Other noncurrent assets and is not material.