Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

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)	June 30, 2017			December 31, 2016
Land	$	338.6		$	337.9
Buildings and leasehold improvements	1,931.3			1,915.4
Machinery, equipment and other	2,833.1			2,547.2
Assets under construction	2,640.6			2,632.5
Total property, plant and equipment at cost	7,743.6			7,433.0
Less: Accumulated depreciation	(1,189.1		)	(963.4		)
Property, plant and equipment, net	$	6,554.5		$	6,469.6

Depreciation expense for the three and six months ended June 30, 2017 was $120.7 million and $243.6 million, respectively, and for the three and six months ended June 30, 2016 was $47.9 million and $82.2 million, respectively.

During the second quarter of 2017, the Company determined it would divest certain facilities as part of the Company’s integration efforts. The Company classified $74.8 million of property, plant and equipment as held for sale, which is reported in Prepaid expenses and other current assets. The $74.8 million of property, plant and equipment is net of a $25.4 million impairment charge reported in Integration and acquisition costs during the second quarter of 2017.