Property, Plant and Equipment, net

3 Months Ended

Mar. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Property, Plant and Equipment—Net

Property, plant and equipment—net consisted of the following:

	March 31, 2017		December 31, 2016
	(in millions)
Land	$	1.4	$	1.4
Buildings and improvements	16.8		16.7
Machinery and equipment	565.3		562.3
Construction in progress	26.1		21.9
Property, plant and equipment	609.6		602.3
Less: Accumulated depreciation and amortization	311.2		301.0
Property, plant and equipment—net	$	298.4	$	301.3

Losses on the disposal of certain machinery and equipment were zero and $0.1 million for the three months ended March 31, 2017 and 2016, respectively, and are included in other general and administrative expenses on our consolidated statements of operations.

Plant turnarounds—Scheduled inspections, replacements and overhauls of machinery and equipment at our continuous process manufacturing facility are referred to as plant turnarounds. The expenditures related to turnarounds are capitalized in property, plant and equipment when incurred. The following is a summary of capitalized plant turnaround costs:

	Three months ended   March 31,
	2017			2016
	(in millions)
Net capitalized turnaround costs:
Beginning balance	$	26.6		$	37.8
Additions	0.6			1.2
Depreciation	(4.1		)	(3.6		)
Ending balance	$	23.1		$	35.4

Scheduled replacements and overhauls of machinery and equipment include the dismantling, repair or replacement and installation of various components including piping, valves, motors, turbines, pumps, compressors, heat exchangers and the replacement of catalyst when a full plant shutdown occurs. Scheduled inspections are also conducted during full plant shutdowns, including required safety inspections which entail the disassembly of various components such as steam boilers, pressure vessels and other equipment requiring safety certifications. Internal employee costs and overhead are not considered turnaround costs and are not capitalized.