PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

The major components of property, plant and equipment as of December 31, 2013 and 2012 were as follows:



	2013			2012
Land	$	76,940		$	42,920
Buildings	607,056			220,039
Machinery and equipment	1,062,746			262,226
Other equipment and leasehold improvements	108,227			55,207
Equipment on operating lease	28,566			—
Construction in progress	189,543			55,840
	2,073,078			636,232
Less accumulated depreciation	(838,842		)	(173,508		)
	$	1,234,236		$	462,724

The increase in the gross carrying value primarily reflects the acquisition of B&L’s property, plant and equipment, which were recorded at fair value (as described in note 3 titled “BUSINESS COMBINATIONS”).

Depreciation expense amounted to $113.8 million, $54.8 million, and $45.6 million in the years ended December 31, 2013, 2012 and 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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