Property, Plant and Equipment, net

9 Months Ended

Sep. 30, 2013

Property, Plant and Equipment, net

Property, Plant and Equipment, net

9. Property, Plant and Equipment, net

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

	September 30 2013		December 31, 2012
	(in millions)
Land	$	1.6	$	1.6
Building and improvements		8.1		7.6
Plant and equipment		362.0		306.4
Construction in progress		62.7		45.7
		434.4		361.3
Less: Accumulated depreciation and amortization		235.4		233.2
	$	199.0	$	128.1

        Plant turnarounds—Scheduled inspections, replacements and overhauls of plant machinery and equipment at our continuous process manufacturing facility are referred to as plant turnarounds. The expenditures related to turnarounds are capitalized when incurred. The following is a summary of plant turnaround activity for the nine months ended September 30, 2013 and 2012.

	Nine months ended September 30,
	2013			2012
	(in millions)
Net capitalized turnaround costs:
Beginning balance	$	2.6		$	6.5
Additions		18.1			—
Depreciation		(3.0	)		(3.0	)
Ending balance	$	17.7		$	3.5

        Scheduled replacements and overhauls of plant 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.