Property, Plant & Equipment, Net

3 Months Ended

Mar. 28, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net

The following table summarizes property, plant and equipment, net as of March 28, 2020 and December 28, 2019:

		March 28, 2020						December 28, 2019
(in millions of U.S. dollars)	Estimated Useful Life in Years	Cost		Accumulated Depreciation		Net		Cost		Accumulated Depreciation		Net
Land	n/a	$	95.3	$	—	$	95.3	$	95.3	$	—	$	95.3
Buildings	10-40	89.9		27.9		62.0		88.9		26.9		62.0
Machinery and equipment	5-15	255.5		68.6		186.9		146.8		66.0		80.8
Plates, films and molds	1-10	1.6		0.6		1.0		1.5		0.6		0.9
Vehicles and transportation equipment	3-15	90.2		60.7		29.5		90.3		59.5		30.8
Leasehold improvements 1		18.6		11.3		7.3		19.8		10.7		9.1
IT Systems	3-7	17.1		10.3		6.8		15.6		9.9		5.7
Furniture and fixtures	3-10	11.4		8.5		2.9		12.0		8.6		3.4
Customer equipment 2	3-7	352.6		153.2		199.4		339.7		144.9		194.8
Returnable bottles 3	3-5	83.9		36.4		47.5		82.0		37.1		44.9
Finance leases 4		59.1		9.0		50.1		37.6		7.2		30.4
Total		$	1,075.2	$	386.5	$	688.7	$	929.5	$	371.4	$	558.1

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¹  Leasehold improvements are amortized over the shorter of their estimated useful lives or the related lease life.

² Customer equipment consists of coolers, brewers, refrigerators, water purification devices and storage racks held on site at customer locations.

³  Returnable bottles are those bottles on site at our Water Solutions customer locations.

⁴  Our recorded assets under finance leases relate to IT systems, customer equipment and vehicles and transportation equipment.

The amounts above include construction-in-progress of $9.2 million and $2.4 million as of March 28, 2020 and December 28, 2019, respectively.

Depreciation expense, which includes depreciation recorded for assets under finance leases, for the three months ended March 28, 2020 and March 30, 2019 was $30.6 million and $26.4 million, respectively.