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 are recorded at historical cost, net of accumulated depreciation. Components of Property, plant and equipment, net are summarized as follows:

(In millions)	March 31, 2017			December 31, 2016
Land	$	339.2		$	337.9
Buildings and leasehold improvements	1,943.0			1,915.4
Machinery, equipment and other	2,642.6			2,547.2
Assets under construction	2,642.8			2,632.5
Total property, plant and equipment at cost	7,567.6			7,433.0
Less: Accumulated depreciation	(1,071.5		)	(963.4		)
Property, plant and equipment, net	$	6,496.1		$	6,469.6

Depreciation expense for the three months endedMarch 31, 2017 was $122.9 million and for the three months endedMarch 31, 2016 was $34.3 million.