Note 7. Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 7. Property, Plant, and Equipment

The following table summarizes the components of property, plant, and equipment:

	December 31, 2019			December 31, 2018
	(in millions)
Manufacturing/Corporate:
Land	$	28.4		$	24.2
Buildings and improvements	402.2			385.5
Machinery and other	546.7			537.2
Construction in progress	63.1			16.3
	1,040.4			963.2
Less accumulated depreciation	(631.6		)	(592.3		)
	408.8			370.9
Leasing:
Wholly-owned subsidiaries:
Machinery and other	13.7			13.5
Equipment on lease	6,944.2			5,934.8
	6,957.9			5,948.3
Less accumulated depreciation	(1,139.0		)	(971.8		)
	5,818.9			4,976.5
Partially-owned subsidiaries:
Equipment on lease	2,410.0			2,371.9
Less accumulated depreciation	(623.3		)	(557.2		)
	1,786.7			1,814.7
Deferred profit on railcars sold to the Leasing Group	(1,135.8		)	(1,030.0		)
Less accumulated amortization	232.0			202.3
	(903.8		)	(827.7		)
	$	7,110.6		$	6,334.4

We lease certain equipment and facilities under operating leases. See Note 1 for future operating lease obligations on non-Leasing Group leases. See Note 1 and Note 6 for information related to the lease agreements, future operating lease obligations, and future minimum rental revenues associated with the Leasing Group.

We did not capitalize any interest expense as part of the construction of facilities and equipment during 2019 or 2018.

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 our experience selling similar properties in the past. As of December 31, 2019, we had non-operating plants with a net book value of $13.8 million. See Note 11 for further information regarding asset impairment charges related to non-operating plants that were recorded during the year ended December 31, 2019.