Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 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)	June 30, 2018			December 31, 2017
Land	$	301.1		$	332.3
Buildings and leasehold improvements	2,940.1			1,940.7
Machinery, equipment and other	3,803.2			3,106.3
Assets under construction	785.8			2,568.2
Total property, plant and equipment at cost	7,830.2			7,947.5
Less: Accumulated depreciation	(1,403.6		)	(1,312.1		)
Property, plant and equipment, net	$	6,426.6		$	6,635.4

Depreciation expense for the three and six months ended June 30, 2018 was $135.0 million and $275.2 million, respectively, and for the three and six months ended June 30, 2017 was $120.7 million and $243.6 million, respectively.

In the second quarter of 2018, the FDA approved a new plasma manufacturing facility near Covington, Georgia. Following the approval, $1,840.5 million of assets were reclassified from Asset under construction to Buildings and leasehold improvements and Machinery, equipment and other assets classes.