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Property, Plant, and Equipment
 3 Months Ended
Mar. 31, 2016
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 March 31, 2016 and December 31, 2015.
 
March 31,
2016
 
December 31,
2015
 
(in millions)
Manufacturing/Corporate:
 
 
 
Land
$
88.8

 
$
86.5

Buildings and improvements
617.4

 
610.4

Machinery and other
1,102.4

 
1,095.9

Construction in progress
62.2

 
68.7

 
1,870.8

 
1,861.5

Less accumulated depreciation
(920.3
)
 
(905.4
)
 
950.5

 
956.1

Leasing:
 
 
 
Wholly-owned subsidiaries:
 
 
 
Machinery and other
10.7

 
10.7

Equipment on lease
4,042.7

 
3,763.5

 
4,053.4

 
3,774.2

Less accumulated depreciation
(673.3
)
 
(647.9
)
 
3,380.1

 
3,126.3

Partially-owned subsidiaries:
 
 
 
Equipment on lease
2,309.1

 
2,307.7

Less accumulated depreciation
(385.4
)
 
(369.1
)
 
1,923.7

 
1,938.6

 
 
 
 
Net deferred profit on railcars sold to the Leasing Group
(730.8
)
 
(673.0
)
 
$
5,523.5

 
$
5,348.0


In conformity with the 2016 presentation, certain prior year balances with respect to equipment on lease cost and accumulated depreciation have been adjusted to properly reflect certain consolidating adjustments which were improperly allocated between wholly-owned subsidiaries and partially-owned subsidiaries on a gross basis. The net book value of equipment on lease for wholly-owned and partially-owned subsidiaries and in total was not affected by these adjustments.