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Property, Plant, and Equipment
 12 Months Ended
Dec. 31, 2017
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, 2017 and 2016.
 
December 31,
2017
 
December 31,
2016
 
(in millions)
Manufacturing/Corporate:
 
 
 
Land
$
122.1

 
$
103.3

Buildings and improvements
668.1

 
642.6

Machinery and other
1,223.6

 
1,151.1

Construction in progress
32.6

 
39.1

 
2,046.4

 
1,936.1

Less accumulated depreciation
(1,073.7
)
 
(974.4
)
 
972.7

 
961.7

Leasing:
 
 
 
Wholly-owned subsidiaries:
 
 
 
Machinery and other
10.7

 
10.7

Equipment on lease
4,987.6

 
4,673.0

 
4,998.3

 
4,683.7

Less accumulated depreciation
(858.3
)
 
(760.1
)
 
4,140.0

 
3,923.6

Partially-owned subsidiaries:
 
 
 
Equipment on lease
2,315.5

 
2,309.4

Less accumulated depreciation
(492.8
)
 
(429.8
)
 
1,822.7

 
1,879.6

 
 
 
 
Deferred profit on railcars sold to the Leasing Group
(974.9
)
 
(948.2
)
Less accumulated amortization
174.2

 
150.1

 
(800.7
)
 
(798.1
)
 
$
6,134.7

 
$
5,966.8



We lease certain equipment and facilities under operating leases. Future minimum rent expense on non-Leasing Group leases in each year is (in millions): 2018 - $10.5; 2019 - $7.6; 2020 - $4.9; 2021 - $1.9; 2022 - $1.0; and $3.0 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 2017 or 2016.
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, 2017, the Company had non-operating plants with a net book value of $71.3 million. Our estimated fair value of these assets exceeds their book value.