Property, Plant and Equipment, Net

3 Months Ended

Mar. 31, 2018

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)	March 31, 2018			December 31, 2017
Land	$	305.5		$	332.3
Buildings and leasehold improvements	1,903.9			1,940.7
Machinery, equipment and other	2,935.4			3,106.3
Assets under construction	2,597.9			2,568.2
Total property, plant and equipment at cost	7,742.7			7,947.5
Less: Accumulated depreciation	(1,282.6		)	(1,312.1		)
Property, plant and equipment, net	$	6,460.1		$	6,635.4

Depreciation expense for the three months ended March 31, 2018 and 2017 was $140.2 million and $122.9 million, respectively.

During the three months ended March 31, 2018, the Company determined it would divest certain facilities as part of its integration efforts. As of March 31, 2018, the Company classified $123.2 million of assets as held for sale, which were reported in Prepaid expenses and other current assets. The $123.2 million of held for sale assets consisted primarily of property, plant and equipment and was net of $137.5 million of impairment charges recorded during the three months ended March 31, 2018. The impairment charges were reported in Integration and acquisition costs.