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Property, Plant, and Equipment
 12 Months Ended
Dec. 31, 2015
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, 2015 and 2014.
 
December 31,
2015
 
December 31,
2014
 
(in millions)
Manufacturing/Corporate:
 
 
 
Land
$
86.5

 
$
81.4

Buildings and improvements
610.4

 
548.2

Machinery and other
1,095.9

 
975.7

Construction in progress
68.7

 
76.4

 
1,861.5

 
1,681.7

Less accumulated depreciation
(905.4
)
 
(820.7
)
 
956.1

 
861.0

Leasing:
 
 
 
Wholly-owned subsidiaries:
 
 
 
Machinery and other
10.7

 
10.7

Equipment on lease
3,664.7

 
3,049.0

 
3,675.4

 
3,059.7

Less accumulated depreciation
(549.1
)
 
(460.5
)
 
3,126.3

 
2,599.2

Partially-owned subsidiaries:
 
 
 
Equipment on lease
2,406.5

 
2,401.8

Less accumulated depreciation
(467.9
)
 
(401.9
)
 
1,938.6

 
1,999.9

 
 
 
 
Net deferred profit on railcars sold to the Leasing Group
(673.0
)
 
(557.2
)
 
$
5,348.0

 
$
4,902.9


In conformity with the 2015 presentation, certain prior year balances with respect to equipment on lease cost and accumulated depreciation have been adjusted to properly reflect eliminations on a gross basis. The net book value of equipment on lease was not affected by these adjustments.
We lease certain equipment and facilities under operating leases. Future minimum rent expense on non-Leasing Group leases in each year is (in millions): 2016 - $8.5; 2017 - $6.2; 2018 - $4.4; 2019 - $2.2; 2020 - $0.8; and $3.4 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 2015 or 2014.
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, 2015, the Company had non-operating plants with a net book value of $20.2 million. Our estimated fair value of these assets exceeds their book value.