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Property, Plant, and Equipment
 12 Months Ended
Dec. 31, 2013
Property, Plant and Equipment [Abstract]  
Property, Plant, and Equipment
Property, Plant, and Equipment

The following table summarizes the components of property, plant, and equipment as of December 31, 2013 and 2012.
 
December 31,
2013
 
December 31,
2012
 
(in millions)
Manufacturing/Corporate:
 
 
 
Land
$
44.2

 
$
37.7

Buildings and improvements
463.2

 
431.0

Machinery and other
832.5

 
745.3

Construction in progress
79.0

 
46.1

 
1,418.9

 
1,260.1

Less accumulated depreciation
(748.3
)
 
(720.8
)
 
670.6

 
539.3

Leasing:
 
 
 
Wholly-owned subsidiaries:
 
 
 
Machinery and other
10.3

 
9.6

Equipment on lease
3,509.1

 
3,157.5

 
3,519.4

 
3,167.1

Less accumulated depreciation
(554.8
)
 
(468.4
)
 
2,964.6

 
2,698.7

Partially-owned subsidiaries:
 
 
 
Equipment on lease
1,887.2

 
1,661.0

Less accumulated depreciation
(202.1
)
 
(153.8
)
 
1,685.1

 
1,507.2

 
 
 
 
Net deferred profit on railcars sold to the Leasing Group
(549.7
)
 
(446.2
)
 
$
4,770.6

 
$
4,299.0



Certain prior year balances with respect to RIV 2013 have been reclassified as pertaining to a partially-owned subsidiary to conform to the 2013 presentation. See Note 5 Partially-Owned Leasing Subsidiaries.

We lease certain equipment and facilities under operating leases. Future minimum rent expense on non-Leasing Group leases in each year is (in millions): 2014 - $5.3; 2015 - $3.5; 2016 - $2.6; 2017 - $1.6; 2018 - $0.7; and $1.0 thereafter. See Note 6 Railcar Leasing and Management Services Group for information related to the lease agreements, future operating lease obligations, and future minimum rent expense associated with the Leasing Group.

We did not capitalize any interest expense as part of the construction of facilities and equipment during 2013 or 2012.

In May 2011 and May 2010, the Company's inland barge manufacturing facilities in Missouri and Tennessee, respectively, experienced floods that resulted in significant damage to Trinity's property and temporary disruption of its production activities. The Company is insured against losses due to property damage and business interruption subject to certain deductibles. With respect to the Missouri flood, Trinity received $35.0 million in payments from its insurance carriers of which $22.7 million pertained to the replacement of or repairs to damaged property, plant, and equipment with a net book value of $5.7 million, with the remainder pertaining primarily to the reimbursement of flood-related expenses and lost production. Accordingly, the Company recognized a gain of $0.4 million in 2012 and $17.0 million in 2011 from the disposition of the Missouri flood-damaged property, plant, and equipment. With respect to the Tennessee flood, Trinity received $27.5 million in payments from its insurance carrier of which $12.6 million pertained to the replacement of or repairs to damaged property, plant, and equipment with a net book value of $2.3 million, with the remainder pertaining primarily to the reimbursement of flood-related expenses. Accordingly, the Company recognized a gain of $0.6 million in 2011 and $9.7 million in 2010 from the disposition of the Tennessee flood-damaged property, plant, and equipment.

We estimate the fair market value of properties no longer in use based on the location and condition of the properties, the fair market value of similar properties in the area, and the Company's experience selling similar properties in the past. As of December 31, 2013, the Company had non-operating plants with a net book value of $24.3 million. Our estimated fair value of these assets exceeds their book value.