Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 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)	December 31, 2017			December 31, 2016
Land	$	332.3		$	337.9
Buildings and leasehold improvements	1,940.7			1,915.4
Machinery, equipment and other	3,106.3			2,547.2
Assets under construction	2,568.2			2,632.5
Total property, plant and equipment at cost	7,947.5			7,433.0
Less: Accumulated depreciation	(1,312.1		)	(963.4		)
Property, plant and equipment, net	$	6,635.4		$	6,469.6

Depreciation expense for the years ended December 31, 2017, 2016 and 2015 was $495.8 million, $292.9 million and $138.5 million, respectively.

During 2017, the Company determined it would divest certain facilities as part of its integration efforts. As of December 31, 2017, the Company classified $19.2 million of assets as held for sale, which were reported in Prepaid expenses and other current assets. The $19.2 million of held for sale assets was net of $27.7 million of impairment charges recorded during 2017 and consisted primarily of property, plant and equipment. The impairment charges were reported in Integration and acquisition costs.

The Company also completed the sales of certain assets during 2017 that were previously classified as held for sale for total cash proceeds of $34.6 million. Prior to the sales, the Company recorded held for sale impairment charges of $44.1 million on those assets in 2017, which were also reported in Integration and acquisition costs.