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Property, Plant, and Equipment
 9 Months Ended
Sep. 30, 2018
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 September 30, 2018 and December 31, 2017.
 
September 30,
2018
 
December 31,
2017
 
(in millions)
Manufacturing/Corporate:
 
 
 
Land
$
119.2

 
$
122.1

Buildings and improvements
671.0

 
668.1

Machinery and other
1,246.1

 
1,223.6

Construction in progress
45.0

 
32.6

 
2,081.3

 
2,046.4

Less accumulated depreciation
(1,136.2
)
 
(1,073.7
)
 
945.1

 
972.7

Leasing:
 
 
 
Wholly-owned subsidiaries:
 
 
 
Machinery and other
12.8

 
10.7

Equipment on lease
5,555.1

 
4,995.7

 
5,567.9

 
5,006.4

Less accumulated depreciation
(959.5
)
 
(858.9
)
 
4,608.4

 
4,147.5

Partially-owned subsidiaries:
 
 
 
Equipment on lease
2,356.7

 
2,317.7

Less accumulated depreciation
(540.8
)
 
(493.1
)
 
1,815.9

 
1,824.6

 
 
 
 
Deferred profit on railcars sold to the Leasing Group
(1,027.8
)
 
(985.2
)
Less accumulated amortization
196.4

 
175.1

 
(831.4
)
 
(810.1
)
 
$
6,538.0

 
$
6,134.7


Subsequent Event    
On October 17, 2018, the Leasing Group acquired, from an unrelated seller, the entire equity interest of a railcar leasing entity for $75.4 million in cash. As a result of the purchase transaction, the Leasing Group acquired approximately 4,150 railcars, substantially all of which are currently under lease to third parties, and assumed indebtedness of approximately $283.9 million with maturities ranging from 2018 through 2035. The Company will record the acquired railcars, the attached leases and the assumed debt at fair value in its Consolidated Balance Sheet as of the purchase date.